Current Affairs - 04 May 2022

Daily Current Affairs of 04 May 2022. Follow Current Affairs on daily Basis in on post. Current Affairs PDF for Competitive Exams

Rasheed Kidwai authored a book titled “Leaders, Politicians, Citizens”

The book “Leaders, Politicians, Citizens: Fifty Figures Who Influenced India’s Politics” authored by author-journalist Rasheed Kidwai. The book comprises stories of 50 personalities who influenced India’s political landscape. The book is published by Hachette India. The foreword of the book is written by Shashi Tharoor, Member of Parliament (Lok Sabha). The 50 personalities featured in the book include Teji Bachchan, Phoolan Devi, Indira Gandhi, Rajiv Gandhi, Jayalalithaa, APJ Abdul Kalam, and Karunanidhi among others.

Traversing ideologies and bringing into focus the human facet of governments, Leaders, Politicians, and Citizens presents a compelling history of Indian democracy and provides riveting insights into the evolution of its political culture.

MCQ

Who is the author of the book “Leaders, Politicians, Citizens: Fifty Figures Who Influenced India’s Politics”?

Ans: Rasheed Kidwai

GST revenue of April 2022: All-time high Rs 1.68 lakh crores

Goods and services tax (GST) collections hit an all-time high of Rs 1.68 lakh crore in April, indicating strong economic activity despite multiple headwinds and better tax compliance. The April number is up 20% from the year-earlier and Rs 25,000 crore more than the previous highest of Rs 1.42 lakh crore in March this year.

In April 2022, 10.6 million GST returns were filed compared with 9.2 million in the year earlier. Of the total, central GST amounted to Rs 33,159 crores, state GST was Rs 41,793 crore, integrated GST was Rs 81,939 crore while Rs 36,705 crore was collected on the import of goods. Cess collection was Rs 10,649 crore, including Rs 857 crore on import of goods. The government has settled Rs 33,423 crore toward central GST and Rs 26,962 crore toward state GST from the integrated GST.

List of previous months’ GST Collection

March 2022: Rs 1.42 Lakh crores
February 2022: Rs 1.33 Lakh crores
January 2022: Rs 1.38 Lakh crores
December 2021: Rs 1.29 Lakh crores
November 2021: Rs 1.31 lakh crores

Kerala beat West Bengal to lift their seventh Santosh Trophy title

Kerala beat West Bengal 5-4 in the penalty shootout to win the 75th Santosh Trophy 2022 at the Manjeri Stadium in Malappuram, Kerala. The teams were level 1-1 after extra time in a pulsating encounter in which plenty of chances were created at both ends with the finishing being astray.

This is Kerala’s third win in a Santosh Trophy tournament on home soil. Earlier, they had won two editions in Kochi, in 1973-74 and 1992-93. Kerala captain Jijo Joseph, who was adjudged the player of the match for a commanding performance in the middle of the park.

Awardees:

Player of the Tournament: Jijo Joseph
Top scorer with nine goals: Jesin TK

Haryana government to build stadium in Neeraj Chopra’s hometown

Haryana Chief Minister Manohar Lal Khattar has announced that a stadium will be built in Olympic gold-medallist Neeraj Chopra’s native village in Panipat. A stadium would be built in Neeraj Chopra’s village for Rs 10 crore. Last year, Chopra became the first Indian to win a gold medal in the Olympic track and field.

Khelo India Youth Games-2021 will be organised by the Haryana Government from June 4 to June 13. Haryana has become a sports hub and players from the state have brought laurels at various national and international level sporting events. Haryana is also giving the highest prize money to its players.

CM Nitish Kumar inaugurated nation’s first ethanol plant in Purnia, Bihar

Bihar’s Chief Minister Nitish Kumar has inaugurated India’s first ethanol plant in Purnia district, Bihar. The plant has been set up by Eastern India Biofuels Private Limited at a cost of Rs 105 crores. Bihar came up with an ethanol production promotion policy in the first half of 2021. It is the country’s first grain-based ethanol plant.

Key points

The plant, situated at Ganeshpur Parora, about 12 km from Purnia town, is spread over 15 acres of land.
Purnia, Katihar, Araria and Kishanganj districts, known as the Seemanchal region, account for 80% of the total maize produced in Bihar and together produce 30-35 lakh metric tonnes (MTs) from April to August.
Bihar came up with an ethanol production promotion policy in the first half of 2021.
In Bihar, 17 ethanol production plants are being set up, which is likely to produce 35 crore litres of fuel every year by using sugarcane, molasses, maize and broken rice.
The ethanol manufactured will be supplied to oil marketing companies for blending into petrol and diesel.
Ethanol plants are being set up in Muzaffarpur, Bhojpur, Nalanda, Buxar, Madhubani, Begusarai, Gopalganj, East Champaran, Bhagalpur, besides Purnia.

Important takeaways for all competitive exams:

Bihar Capital: Patna;
Bihar Governor: Phagu Chauhan;
Bihar Chief Minister: Nitish Kumar.

HDFC Life joined the United Nations as a signatory

HDFC Life has joined the UN-backed Principles for Responsible Investment (PRI), demonstrating its commitment to long-term value creation and sustainable growth. HDFC Life is dedicated to the Responsible Investment principles (RI). The Group feels that it is its moral duty as an active asset manager for policyholders who have entrusted their funds to HDFC Life to deliver maximum risk adjusted returns in the long run.

This goal can be achieved by using the RI approach to investment decisions, which comprises core stewardship principles and consideration of environmental, social, and governance (ESG) considerations in addition to financial parameters and prospects. This approach is in line with HDFC Life’s vision of long-term growth. The company presently has about Rs. 2 lakh crores in assets under management.

PRI

PRI, or Principles for Responsible Investment, was founded in 2005 by the then-United Nations Secretary-General and a group of some of the world’s largest institutional investors. It is the world’s leading proponent of responsible investment.

It aims to better understand the investment implications of environmental, social, and governance (ESG) factors and to assist its global network of investor signatories in incorporating these factors into their investment and ownership decisions. They currently have over 4,000 signatories from over 60 countries, representing assets worth over USD 120 trillion.

HDFC Life

HDFC Life Insurance Corporation Limited is a joint venture between ABRDN 2006 Limited (a Mauritius firm) , a worldwide investment company, and HDFC Ltd., India’s premier housing financing organisation.

HDFC Life, a leading, publicly traded long-term life insurance solutions provider in India, was founded in 2000 and offers a variety of individual and group insurance solutions to address a variety of consumer needs, including protection, pension, savings, investment, annuity, and health. The Company’s portfolio included 39 individual and 13 group products, as well as 7 optional rider benefits, as of March 31, 2022, to meet a wide range of consumer needs.

Important Takeaways For All Competitive Exams:

Managing Director and Chief Executive Officer of HDFC Life: Vibha Padalkar

Under Project WAVE, Indian Bank has launched a pre-approved personal loan

The public sector bank, The Indian Bank has presented a pre-approved personal loan product under Project WAVE. The Chennai-based bank announced the World of Advance Virtual Experience, WAVE digital transformation project in January 2022 to introduce its first digital product, the Pre-Approved Personal Loan (PAPL), which intends to give consumers with rapid loan disbursements.

KEY POINTS:

They proclaimed their commitment to ushering in an era of digital change at Indian Bank through project WAVE at the start of the year. They debuted their first PAPL product, which will only be available through internet outlets.
The service is offered to existing clients who have regular income and pension accounts, as well as PAPL loan products, and can be accessed via a mobile application, the bank’s website, and internet banking.
The loan would have a ten percent annual interest rate and no foreclosure fees.
Indian Bank is giving the loan at the finest conditions available in the domestic market, with the option to choose loan tenure from 24 to 48 months and the ability to close the loan before time without penalty.

Important Takeaway For All Competitive Exams:

Indian Bank’s managing director and CEO: S L Jain

World Asthma Day 2022 observed on 3rd May

World Asthma Day is observed every year on the first Tuesday of May to spread awareness and care about asthma in the world. This year it falls on 3rd of May 2022. An annual event is organised by the Global Initiative for Asthma. This year the theme is ‘Closing Gaps in Asthma Care’. Asthma, the chronic inflammatory disease of the airways, affects 300 million people worldwide and India alone has 15 million asthma patients.

History of World Asthma Day:

World Asthma Day is annually organized by the Global Initiative for Asthma (GINA). In 1998, the first World Asthma Day was celebrated in more than 35 countries in conjunction with the first World Asthma Meeting in Barcelona, Spain.

What is Asthma?

Asthma is a chronic disease of the lungs that causes breathing problems. Symptoms of asthma include breathlessness, coughing, wheezing and a feeling of tightness in the chest. These symptoms vary in frequency and severity.
When the symptoms are not under control, the airways can become inflamed making breathing difficult. Whilst asthma can not be cured, the symptoms can be controlled enabling people with asthma to live full lives.
It is a long-term disease, which makes your airways narrow and swell and may produce extra mucus. A person suffering from asthma can have difficulty in breathing, which can trigger coughing, wheezing and chest tightness.

NATO Exercises’ Defender Europe 2022 & Swift Response 2022 began

North Atlantic Treaty Organisation (NATO) exercise, Defender Europe 2022 (DE22) and Swift Response 2022 (SR22) began on May 01, 2022, aimed at building preparedness and interoperability between Allies and partners of the United States (US) and NATO. The exercises are scheduled from May 01 to May 27, 2022.

Exercise Swift Response is an annual U.S. Army Europe and Africa multinational training exercise that takes place this year in Eastern Europe, the Arctic High North, Baltics, and Balkans. The exercise began in Poland and will be held in 8 other countries. The 5th Corps of the US Armed Forces is responsible for the command of the exercises. There will be approximately 18 000 participants from over 20 countries training together in both exercises. The portion of the exercises on Polish soil will see some 7,000 troops and 3,000 pieces of equipment.

Defender Europe 2022:

DEFENDER-Europe 22 demonstrates the United States’ unshakable commitment to NATO and is a prime example of our collective capabilities. It shows that NATO’s allies and partners are stronger together.

Swift Response 2022

In the Swift Response exercise, the 6th Airborne Brigade will constitute the core of forces conducting an airborne operation. Some 550 Polish soldiers will be deployed to Lithuania and Latvia along with troops from the Czech Republic and the German-Dutch force.

Important takeaways for all competitive exams:

Poland Capital: Warsaw;
Poland Currency: Polish złoty;
Poland President: Andrzej Duda.

IRDAI authorise insurance companies for investment of 25% to 30% of assets in BFSI sector

The Insurance Regulatory and Development Authority of India (IRDAI) increased insurers’ maximum investment limit in banking, financial services, and insurance (BFSI) companies from 25% to 30% of their assets. The threshold for financial and insurance actions will now be 30 percent of investment assets for all insurers, according to the most recent modifications to IRDAI’s investment Regulations, 2016. This will include investments in home finance companies and infrastructure finance companies.

KEY POINTS:

Experts believe that the regulator’s increase will assist insurers in bringing their financial and insurance exposure closer to broader Indian market indexes.
Financial services firms, which include significant banks, non-banking financial organisations (NBFCs), and insurance companies, have a present weightage of roughly 35 percent.
The weightage of financial and insurance companies in broader Indian market indices has consistently increased over the last few years, according to Sampath Reddy, chief investment officer, Bajaj Allianz Life Insurance Co. Ltd.
Insurance companies, according to Reddy, will be able to own a much broader array of varied stocks as a result of IRDAI’s approach.
The increase in investment asset caps from 25% to 30%, according to Mayank Gupta, co-founder and chief operating officer of Zopper, an insurtech startup, is a significant step for insurance companies.

Important Takeaways For All Competitve Exams

Chief investment officer, Bajaj Allianz Life Insurance Co. Ltd: Sampath Reddy
Co-founder and chief operating officer of Zopper: Mayank Gupta

INS Vikrant, India’s first indigenous aircraft carrier, will be handed over to the Indian navy

The second sea trials of India’s first indigenous aircraft carrier (IAC) Vikrant began, ahead of her anticipated induction into the Indian Navy in August next year. In August, the 40,000-tonne aircraft carrier, India’s largest and most sophisticated warship, successfully conducted a five-day maiden sea cruise.

KEY POINTS:

The Navy stated that the performance of the warship’s key systems was found to be satisfactory following the first sea trials.
The battleship was built at a cost of approximately 23,000 crore, propelling India into a restricted group of countries with the capability to develop cutting-edge aircraft carriers.
MiG-29K fighter jets, Kamov-31 helicopters, and MH-60R multi-role helicopters will be used by the warship.
It features almost 2,300 compartments, with specialised quarters for female officers, and is meant for a crew of around 1,700 people.
According to officials, Vikrant has a top speed of roughly 28 knots and a cruising speed of 18 knots, with a range of about 7,500 nautical miles.
The IAC is 262 metres long, 62 metres wide, and stands 59 metres tall. It has been under construction since 2009.
Cochin Shipyard Limited constructed the warship.
INS Vikramaditya is India’s only aircraft carrier at the moment.
In light of China’s expanding military presence in the Indian Ocean region, the Indian Navy has been working on greatly enhancing its overall capabilities.
The Indian Navy considers the Indian Ocean to be its backyard, and it is vital to the nation’s strategic interests.

Sangeeta Singh appointed as chairman of CBDT

Sangeeta Singh, a 1986 batch Indian Revenue Service (IRS) officer has been given additional charge of Chairman, Central Board of Direct Taxes (CBDT), after incumbent JB Mohapatra retired as the head of the direct taxes administration body on April 30. Currently, the board has four members including Sangeeta Singh.

Singh is currently holding charge of Audit and Judicial. She is also holding additional charge of Income Tax and Revenue and Tax Payers services. Her Husband, Arvind Singh is a Maharashtra Cadre IAS and presently serving as Secretary of Tourism, Government of India.

Other appointments:

Anuja Sarangi, a 1985 batch officer is holding charge of Member, Administration, and Faceless Scheme, Nitin Gupta is handling the charge of Investigation and Pragya Sahay Saksena is handling the charge of member legislation and systems.

Important takeaways for all competitive exams:

Central Board of Direct Taxes Formation: 1964;
Central Board of Direct Taxes Headquarters: New Delhi.

Rajasthan’s ‘Miyan ka Bada’ Railway Station renamed to ‘Mahesh Nagar Halt’

‘Miyan Ka Bada’ railway station in the Balotra area of Rajasthan’s Barmer district was renamed “Mahesh Nagar Halt.” Since Independence, the people of Mian Ka Bada in Rajasthan have demanded that the village’s name be changed, claiming that the village’s original name was Mahesh Ro Bado.

In 2018, the Rajasthan government changed the village’s name from Mian Ka Bada to Mahesh Nagar and made the necessary revisions in the revenue records. Proposals to rename the station were sent to the railway ministry when the village’s name was changed. In 2021, the name of the railway station was changed from Mian Ka Bada to Mahesh Nagar Halt after the proper procedures were followed, but the inauguration was postponed owing to the COVID-19 pandemic. The renamed station was finally inaugurated on April 30, 2022.

Different Classical Dance Forms of India and it’s History

Indian Classical Dance forms

India is a diverse country with a variety of cultures and heritage. Every state has its uniqueness, whether it is language, food, clothes, etc. Dance is one of the oldest forms of art found in India. Several dance forms can be seen in India. People who keep these dance forms alive mostly belong to the tribal communities of various parts of the country. Every dance is different in terms of songs, musical instruments, costumes, makeup, props, and steps.

Different Dance Forms in India

According to the Sangeet Natak Academy, there are eight dance forms in India, and according to the Indian Ministry of Culture, Chhau dance is the 9^th dance form in India, therefore there are 9 dance forms in India.

Bharatnatyam- It is a dance form that originated fr Tamil Nadu. It was originally performed in the temples of Tamil Nadu, by the Devadasis and therefore it is also known as Dasiattam. Bharatnatyam is believed to be 2000 years old dance form and it can also be found in the Bharata Muni’s Natya Shastra. The three important features of Bharatnatyam are Nritta, Natya, and Nritya. It is performed both by men and women. The dance costumes are bright-colored, with women wearing saree and men wearing dhoti. The most important part of the dance form is gestures which are called Mudras or Hastas.
Kathak- Kathak also has its foundation in the Natya Shastra written by Bharata Muni. It has three sections called Invocation, Nritta, and Nritya. Kathak is known by both Hindu and Muslim majority of people, therefore the costumes depend on the group of people performing the dance form. The origin of Kathak is Uttar Pradesh and the word Kathak is derived from the word Katha which means story. It is considered a musical dance story because throughout the whole performance the artists narrate stories.
Kathakali- Kathakali originated from the south Indian state of Kerala. It also includes storytelling with the help of dance. It is very famous for its signature steps like hand and eye movements. These dance forms are generally performed in the temples. The gestures of Kathakali align with the verses known as Padmas. The stories or plays depicted in the dance form are derived from Hindu mythologies like Ramayana and Mahabharata.
Kuchipudi- It originated from Andhra Pradesh. The name is derived from a village named kuchelpuram. Kuchipudi is developed as a dance form to worship the Lord, Krishna. The poses and steps make Kuchipudi different from Bharatanatyam. Bharatnatyam has sculpted poses whereas Kuchipudi has rounded poses.
Manipuri- Manipuri dance is originated from Manipur. Lai Haraoba is a state festival and it is the origin and basis of all the dance forms of Manipuri dances. Lai Haraoba means merrymaking of the gods. The main performers of the dance form are called maibas and maibis. The theme of the dance form revolves around the love story of Radha and Krishna. The three different styles of Manipuri Ras Leela are Tal Rasak, Danda Rasak and Mandal Rasak.
Mohiniyattam- It originated from Kerala. The name Mohiniyattam is derived from the word Mohini, which is the feminine form of Lord Vishnu. The word Mohini means the dance of Mohini.
Odissi- It originated from Odisha. The earliest form of the present-day Odissi dance form is Ordhra Magadha. The chief repositories of the Odissi Dance are called Maharis, they were the temple dancers. The dance costume used in Odissi is a silk hued saree decorated with conventional plans.
Sattriya- It was introduced in the 15th Century and originated from the monasteries of Assam. It was the innovation of the great Vaishnava saints and the reformers of Assam. The Pattaya dance is strictly governed by principles of hasta mudras, footwork, aharyas, music, etc.
Chhau– it is a semi-classical dance form. There are three types of Chhau based on the regions it is performed. Chhau is performed in Purulia, West Bengal, Seraikella, Jharkhand, and Mayurbhanj Chau of Odisha. the artists wear huge masks which depict different deities.

FAQs related to classical dance forms of India

1. What are the classical dance forms of India?
Ans. There are nine classical dance forms in India, which include Bharatnatyam, Kathak, Kathakali, Kuchipudi, Manipuri, Mohiniyattam, sattriya, and chhau. All these dance forms originated in different parts of the country.

2. Which is the best book for classical dance form in India?
Ans. Bharat muni’s book Natya Shastra is the first famous source for classical dance in India. This book includes all the different dance forms of India with its history.

3. When did Odissi become a classical dance form of India?
Ans. In 1955, Odissi was revived as a classical dance form with the help of many dance gurus, with the majority of contributions from Guru kelucharan Mohapatra.

Cochin Shipyard to build India’s first home made Hydrogen-fuelled electric vessel

Sarbananda Sonowal, Union Minister for Ports, Shipping and Waterways, announced that the Ministry of Ports, Shipping and Waterways would develop and build India’s first indigenous hydrogen-fueled electric vessels at Cochin Shipyard Limited (CSL), kicking off the country’s efforts toward green shipping.

KEY POINTS:

At a session titled Green Shipping in India – 2022, organised by the Ministry in collaboration with the shipyard and The Energy and Resources Institute, he also revealed the government’s intention for developing such vessels in order to stay up with the Global Maritime Green Transitions.
Transportation, commodities handling, stationery, and portable and emergency backup power applications are all possible applications for hydrogen fuel cells.
Fuel cells fueled by Hydrogen are an efficient, environmentally friendly, zero-emission direct current (DC) power source that has already been used in heavy-duty bus, truck, and train applications and is now being developed for marine applications.
Sonowal stated that the project would be carried out in partnership with Indian partners by the Cochin Shipyard.
The shipyard has already started the groundwork in this area, partnering with KPIT Technologies and Indian developers for hydrogen fuel cells and power trains, as well as the Indian Register of Shipping (IRS) for drafting laws and regulations for such vessels.
Fuel Cell Electric Vessel (FCEV), a hydrogen fuel cell vessel based on Low Temperature Proton Exchange Membrane Technology (LT-PEM), is expected to cost around 17.50 crore, with the Centre funding 75 percent of the cost.

The construction of these vessels is seen as a springboard for the country to take advantage of the tremendous prospects available in the coastal and inland-vessels segments, both domestically and internationally.

Important Takeaways For All Competitive Exams

Union Minister for Ports, Shipping and Waterways: Sarbananda Sonowal

Chhattisgarh launched ‘Mukhyamantri Mitaan Yojana’

Chief Minister of Chhattisgarh, Bhupesh Baghel has launched ‘Mukhyamantri Mitaan Yojana’ (Mitaan stands for a friend), which will be implemented on a pilot basis in 14 municipal corporations including the cities like Raipur, Durg, Bilaspur and Rajnandgaon in Chhattisgarh. Under the Scheme, the residents of Chhattisgarh can avail around 100 public services at their doorstep.

In the first phase:

13 services in 14 municipal corporation areas have been included under the ‘Mitaan’ scheme as announced by the CM in his budget speech for the fiscal year 2022-23.
Under the Scheme, people can contact the ‘Mitaan’ (nominated individual) on the toll-free number (14545) for the service. The required documents of the residents will be collected from their homes through the Mitaan, who will then scan the certificates and get the processes rolling for the issuance of certificates or services.
Once the concerned department issues the certificate, it will then be delivered at the citizen’s doorstep by the ‘Mitaan’ in a sealed envelope within the prescribed time limit.

Ex- petroleum secretary Tarun Kapoor appointed as advisor to PM Modi

Former petroleum secretary Tarun Kapoor has been appointed as an advisor to Prime Minister Narendra Modi, according to a government order issued. Kapoor, a 1987-batch IAS officer of the Himachal Pradesh cadre, superannuated as the secretary of the ministry of petroleum and natural gas on November 30, 2021.

The Appointments Committee of the Cabinet has approved the appointment of Kapoor, as an advisor to the Prime Minister, in the Prime Minister’s Office (PMO), in the rank and scale of Secretary to Government of India, initially for a period of two years from the date of joining.

Other Appointments:

Senior bureaucrats Hari Ranjan Rao and Atish Chandra have been appointed as additional secretaries in the Prime Minister’s Office (PMO).
Rao is a 1994-batch lAS officer of the Madhya Pradesh cadre and is currently an administrator at Universal Services Obligation Fund in the department of telecommunications.
Chandra, Rao’s batchmate from the Bihar cadre, is currently chairman and managing director (CMD), Food Corporation of India, department of food and public distribution.

Satyajit Ray’s birth Anniversary, National Museum of Indian Cinema will host film festival

On Satyajit Ray’s 101st birthday, the Union Information and Broadcasting Ministry’s National Museum of Indian Cinema in Mumbai will conduct a three-day film festival at various locations across India to screen films by the iconic filmmaker. It will also show movies about Satyajit Ray.

KEY POINTS:

The Film Festival is being organised by the National Museum of Indian Cinema in Mumbai in collaboration with the National Film Development Corporation, Films Division, National Film Archives of India, and Doordarshan, with support from the Government of West Bengal, Aurora Film Corporation, and Friends Communication.
Anik Dutta’s Aparajito, which will receive its ‘India Premiere’, will be the festival’s opening film. The film is a tribute to Satyajit Ray’s classic Pather Panchali, which was inspired by the making of the film.
On May 4, a panel discussion will follow the screening of Pather Panchali, the internationally famous movie on human documenting that Ray first exposed to the globe.
For all audiences, especially cinephiles and admirers of Ray’s work, the panel discussion will be webcast live on NFDC’s official Facebook page.
Director Shyam Benegal, Ray’s favourite actor Barun Chanda, and music composer Shantanu Moitra will be on the panel.
Aside from the premiere of Dutta’s Aparajito, which is set to hit theatres on May 13, the other films are NFDC’s Agantuk, Ghare Baire, and Ganashatru, all directed by Ray.
The event will also feature a screening of Satyajit Ray’s documentary on Rabindranath Tagore, directed by Utpalendu Chakraborty.

India gets its 100th unicorn startup as neobank Open

India got its 100th unicorn when neobanking fintech portal, “Open”, raised fresh capital to push up its value to over a billion dollars. The five-year-old Bengaluru-based neobank raised $50 Mn in a Series D funding round from IIFL, Singaporean state holding company Temasek, American investment firm Tiger Global and another Indian firm 3one4 Capital. This helped its valuation cross the $1 bn mark.

The funding comes just six months after Google, Temasek, Visa, and Japan’s SoftBank invested $100 million in the neobank startup. This funding signifies the enthusiasm in the Indian startup ecosystem, which is the world’s third-largest according to Economic Survey, 2021-22. India overtook the UK to reach the spot after the US and China, which added 487 and 301 unicorns respectively, according to the survey.

Important takeaways for all competitive exams:

Anish Achuthan, co-founder and chief executive of Open.

Real Madrid clinch 35th Spanish League title

Real Madrid clinched a record-extending 35th Spanish league title after its reserve squad comfortably defeated Espanyol 4-0. Rodrygo scored twice and Marco Asensio and substitute Karim Benzema added a goal each to give Madrid its second league title in three seasons, and third in six years.

With the title, Carlo Ancelotti became the first coach to lift trophies in the top five European leagues. The Italian manager won with AC Milan in Serie A, Chelsea in the English Premier League, Paris Saint-Germain in Ligue 1, and Bayern Munich in the Bundesliga.

PM Modi addressed the association with Canada at divulge of Sardar Patel statue

The inauguration of a statue of Sardar Vallabhbhai Patel, the first in North America, in Canada was praised by Prime Minister Narendra Modi as “a benchmark for relations between the two countries.” The bronze monument was unveiled at a ceremony at the Sanatan Mandir Cultural Centre in Markham, Ontario. It is a wonderful opportunity to recognise the longstanding and dynamic relationship that exists between India and Canada, as well as the significant contributions to the Indo-Canadian community – numbering over 1.4 million.

Key Points:

The statue also serves as “a testament to the community’s deep gratitude and respect for Sardar Patel’s immense contributions and selfless dedication to India.”
The statue was a smaller counterpart of the Statue of Unity in Kevadia, Gujarat.
The statue stands nine feet tall on a four-foot base and weighs nine tonnes.
In 2019, the temple launched a fundraising campaign for the monument, which was created by Matu Ram Art Centres, a Gurugram-based company.

Important Takeaways for All Competitive Exams:

External Affairs Minister: S Jaishankar
Gujarat Chief Minister: Bhupendra Patel

Rajiv Ranjan nomination as ex-officio member of Monetary Policy Committee, approved by RBI Board

The Reserve Bank of India’s Central Board of Directors met for the 595th time. The meeting was held through video conferencing under the chairmanship of RBI Governor Shaktikanta Das, according to the RBI. The Board approved the appointment of Executive Director Dr. Rajiv Ranjan to the Monetary Policy Committee as an ex-officio member. Ranjan replaced Mridul Saggar, who retired on April 30. Ranjan is the MPC’s third (ex-officio) internal member.

Key Points:

The meeting included Deputy Governors and other Central Board Directors, as well as Secretary Ajay Seth of the Department of Economic Affairs.
The RBI raised the benchmark lending rate by 40 basis points (bps) to 4.40 percent, after an unscheduled MPC meeting to limit inflation, which has stayed stubbornly over the target of 6% for the last three months.
To suck out Rs 87,000 crore of liquidity from the banking system, the Monetary Policy Committee (MPC) led by RBI Governor Shaktikanta Das increased the percentage of deposits banks are required to retain a cash reserve by 50 basis points to 4.5 percent.
The CRR increase will take effect on May 21.
This is the first rate hike since August 2018 and the first time the MPC has raised the repo rate without warning (the rate at which banks borrow from the RBI).
The MPC agreed unanimously to raise interest rates while remaining accommodating.
The retail inflation rate in March came in at 6.9%.
The MPC decision, according to the governor, reversed the May 2020 interest rate drop by an equal amount.
On May 22, 2020, the central bank altered its policy repo rate, or short-term lending rate, in an off-policy cycle to boost demand by decreasing the interest rate to a historic low of 4%.