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 Daily Current Affairs PDF

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 Daily Current Affairs PDF

AFFAIRSCLOUD TODAY
Current Affairs 7 September 2022 : Headlines

1. PM-SHRI Yojana: PM Narendra Modi announces new CSS to Upgrade 14,500 Schools
2. Central Government approves New CZMP in Karnataka; Laid Foundation worth Rs 3,800 crore in
Mangaluru
3. UNESCO Global Network of Learning Cities 2022: Thrissur & Nilambur in Kerala and Warangal in
Telangana Become the First Entrants from India
4. MCA extended the Tenure of Company Law Committee by 1 more year
5. MeitY Approves Rs 500 Crore Pune Electronics Manufacturing Cluster Project
6. Digital India Mission: UP Tops in Disposal & Entry of Cases Via E-Prosecution Portal
7. IILM University Launches 1st NEP 2020 Compliant Law School in India
8. Govt to rename Delhi’s Rajpath as ‘Kartavyapath’
9. Fuelflip Energy develops India’s first Air-gas Mixer
10. Retail payment products of HDFC Bank, Precision Biometric chosen for Test Phase under RBI’s
Regulatory Sandbox
11. MoF Releases 28th Edition of Status Report On India’s External Debt 2021-22
12. 5 PSLV rockets to build by HAL-L&T Consortium & bags Rs 860 crore deal from NSIL
13. Lok Nayak Foundation Sahitya Puraskar presented to Tanikella Bharani in Vizag
14. Captain B K Tyagi took over as CMD of Shipping Corporation of India
15. CCI Approves Acquisition of 100% of Equity Share Capital of IIL by PayU India
16. RIL acquired a 79.4% stake in SenseHawk Inc for USD 32 million
17. Mastercard acquires Title Sponsorship Rights for all BCCI International and Domestic Matches
18. Badminton: Japan’s Kenta Nishimoto won Men’s Singles at Japan Open 2022; Japan’s Akane
Yamaguchi won Women’s Singles
19. President Murmu appoints Justice M Duraiswamy as the Chief Justice of Madras High Court
20. Airtel partnered with Odisha to offer Bill Payment Solution

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NATIONAL AFFAIRS
PM-SHRI Yojana: PM announces new CSS to Upgrade 14,500 Schools
On September 5, 2022, i.e. on the occasion of Teacher’s Day, the Prime Minister (PM) of India Narendra Modi
announced a new Centrally Sponsored Scheme (CSS) – Pradhan Mantri Schools for Rising India (PM SHRI)
Yojana under which 14,500 schools will be selected to develop and upgrade across India.

• These schools will be equipped with modern infrastructure including labs, smart classrooms,
libraries, sports equipment, art room etc. which is inclusive and accessible.
• These schools will also be developed as green schools with water conservation, waste recycling,
energy-efficient infrastructure and integration of organic lifestyle in curriculum.
Aim of PM SHRI Schools:
Qualitative teaching, learning and cognitive development, creating holistic and well-rounded individuals
equipped with key 21st century skills
Key Points:
i.The selection will be done from the existing schools from amongst schools managed by Central Government/
State/ UT Government/ local bodies.
ii.the cost of implementation is likely to split in the 60:40 ratio among the Union government and the
states/Union. In Himachal Pradesh, Uttarakhand, Jammu and Kashmir and the northeast, the contribution of
the Centre can go up to 90 per cent.
iii.PM SHRI Schools will showcase all components of the National Education Policy (NEP) 2020 and act as
exemplar schools and also offer mentorship to other schools in their vicinity.
iv.Pedagogy adopted in these schools will be more experiential, holistic, integrated, play/toy-based
(particularly, in the foundational years) inquiry-driven, discovery-oriented, learner-centred, discussion-based,
flexible and enjoyable.
v.Assessment at all levels will be based on conceptual understanding, application of knowledge to real life
situations, and will be competency-based.

Central Government approves New CZMP in Karnataka; Laid Foundation worth Rs 3,800 crore
in Mangaluru
On September 2, 2022, the Prime Minister (PM) of India Narendra Modi laid the foundation for 8 projects worth
Rs 3,800 crore at Goldfinch city in Mangaluru (Karnataka), and approved the State’s revised Coastal Zone
Management Plan (CZMP).
• Karnataka is the first state in southern India and only the second state (after Goa) in India to get
the CZMP prepared and approved as per the 2019 Coastal Regulatory Zone (CRZ) notification which
has been approved by the Ministry of Environment, Forest and Climate Change (MoEF&CC).
• This Plan will boost the economy and tourism in the coastal region of Karnataka.
Following are the Rs 3,800 crore projects that were inaugurated/laid by the PM at Goldfinch city in Mangaluru:

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i.Project worth over Rs 280 crore for mechanization of Berth No. 14 for handling containers and other cargo,
undertaken by the New Mangalore Port Authority was inaugurated.
• Phase I of the project has been successfully completed, thereby adding over 4.2 MTPA (million
tonnes per annum) to the handling capacity, which will further increase to over 6 MTPA by 2025.
ii.Foundation stone of five projects worth around Rs 1000 crore, undertaken by the Port were laid including
integrated LPG (Liquefied Petroleum Gas) and Bulk Liquid POL Facility, equipped with a state-of-the-art
cryogenic LPG storage tank terminal which will be capable of unloading full load VLGC (very large gas carriers)
of 45,000 tonnes in a highly efficient manner.
• The facility will bolster Pradhan Mantri Ujjwala Yojana (PMUY) in the region while reinforcing the
port’s status as one of the top LPG importing ports in the country.
iii.PM also laid the foundation stone of projects for the construction of storage tanks and edible oil refinery,
construction of bitumen storage and allied facilities and construction of bitumen & edible oil storage and allied
facilities.
iv.Foundation stone for the development of the Fishing Harbour at Kulai was also laid, which will facilitate safe
handling of fish catch and enable better prices in the global market.
v.Inaugurated two projects undertaken by Mangalore Refinery and Petrochemicals Limited viz. BS VI
Upgradation Project, and Sea Water Desalination Plant was also done.
• The BS VI Upgradation Project, worth around Rs 1830 crores, will facilitate the production of ultra-
pure environment-friendly BS-VI grade fuel (with sulphur content less than 10 PPM).
• The Sea Water Desalination Plant, set up at a cost of around Rs. 680 crores, will help reduce
dependency on fresh water and ensure a regular supply of hydrocarbons and petrochemicals
throughout the year. Having a capacity of 30 Million Litres per Day (MLD), the Plant converts
seawater into water required for the refinery processes.
Other Central Government approvals for Karnataka to boost its Development:
i.Under Sagar Mala project, 18 projects have been completed and 14 schemes worth Rs 950 crore are approved
by Union Government
ii.The Central Government has given approval for the development of Maajali Port in Karwar at a cost of Rs 350
crore.
iii.Under Pradhan Mantri Matsya Sampada scheme, Government has given approval to supply 100 high speed
boats to help deep sea fishing.
iv.The Government is also expanding Mangaluru and Karwar ports.
v.The government has implemented Vidyanidhi scheme for the children of fishermen and it will benefit 2 lakh
children.
vi.The Inland and Fishery Institute will be established in Karwar.
vii.Fishermen will get 5,000 houses under Matsyashraya scheme at a cost of Rs 64 crore.
Recent Related News:
i.Karnataka is slated to be the first state in India to establish an exclusive Research and Development (R & D)
policy. A Task Force, headed by Professor Ashok S. Shettar, the Vice-Chancellor of KLE Technological University
(KLE Tech), Karnataka, and other officials, has been formed to ensure its effective implementation.

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ii.According to the Israel-based StartupBlink’s ‘Global Startup Ecosystem Index (GSEI) 2022’, Bengaluru, the
capital city of Karnataka, has the “strongest startup ecosystem in India” and ranks 8th among the world’s top 10
cities.
About Karnataka:
Chief Minister (CM)– Basavaraj Bommai
Festivals – Karnataka Rajyotsava (Celebrates the formation day of the state); Kambala Festival (an annual
buffalo race)
Stadium – Karnataka State Hockey Association (KSHA) Hockey Stadium (Bengaluru); Srikantadatta Narasimha
Raja Wadeyar Ground (Gangotri Glades Cricket Ground)

UNESCO Global Network of Learning Cities 2022: Thrissur & Nilambur in Kerala and Warangal
in Telangana Become the First Entrants from India
The Indian cities of Nilambur & Thrissur in Kerala and Warangal in Telangana, have earned recognition
from the United Nations Educational, Scientific, and Cultural Organization (UNESCO) after becoming India’s
first entrants into the UNESCO Global Network of Learning Cities (GNLC).

• The UNESCO GNLC is an international policy-oriented network providing inspiration, know-how and
best practice.
• The UNESCO GNLC has honoured 77 cities from 44 countries in 2022 in recognition of their
outstanding work to make lifelong learning a reality for all at the local level.The 77 new members
bring the total number of cities within the UNESCO GNLC to 294 in 76 countries
• Other cities that have joined the network are the Ukrainian capital Kyiv, Durban in South Africa and
Sharjah in the United Arab Emirates among others.
Highlights of Indian Cities That Have Joined UNESCO GNLC
Thrissur: The Cultural Capital of Kerala
Thrissur, Kerala’s cultural capital, is home to academic and research institutes and is well-known for its gold
and jewellery sectors.
• Leading private sector banks in India, such as Catholic Syrian Bank (CSB), Dhanlaxmi Bank, and
South Indian Bank (SIB), have their headquarters in Thrissur.
Nilambur: A Prominent Ecotourism Destination in Kerala
Nilambur is a popular eco-tourism destination in Kerala. It is distinguished primarily by diverse socioeconomic
trends and a mix of urban and rural populations.
• The majority of the population is reliant on agriculture and related sectors.
The city strives to achieve the United Nations (UN) Sustainable Development Goal (SDG) -2 of “zero hunger”
and employment opportunities.
• The city is most renowned for its healthcare facility development.
Warangal: Historic City of Telangana
Warangal is Telangana’s second largest city, next to Hyderabad, the state capital.

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• This is the second UNESCO recognition for Telangana, as the 13th-century Great Ramappa Temple in
the erstwhile Warangal district (now in Mulugu district) was designated a World Heritage Site by
UNESCO in 2021.
• It was Telangana’s first archaeologically significant site to be listed on the UNESCO World Heritage
List.
Note:
Some of the most developed cities in UNESCO GNLC: Beijing & Shanghai in China, Hamburg in Germany, Athens
in Greece, Incheon in South Korea, Bristol in England, and Dublin in the Republic of Ireland.
UNESCO Global Network of Learning Cities (GNLC)
i.The UNESCO Global Network of Learning Cities (GNLC) was launched by the UNESCO Institute for Lifelong
Learning in 2013 with the goal of promoting social cohesion, economic development and sustainability in
urban areas.
ii.As part of its global policy, the UNESCO GNLC adopted a strategy in 2019 to enhance the achievement of all 17
SDGs, which will be put into practice between 2021-23. It specifically aspires to accomplish:
• SDG 4 – ‘Ensure inclusive and equitable quality education and promote lifelong learning
opportunities for all’
• SDG 11 – ‘Make cities and human settlements inclusive, safe, resilient and sustainable’
What is a Learning City?
A learning city promotes lifelong learning for all. According to UNESCO, a learning city is one that:
• Effectively mobilizes its resources in every sector to promote inclusive learning from basic to higher
education
• Revitalizes learning in families and communities
• Facilitates learning for and in the workplace
• Extends the use of modern learning technologies
• Enhances quality and excellence in learning
• Fosters a culture of learning throughout life

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Recent Related News:

In July 2022, India was elected as a State Member of the Intergovernmental Committee (IGC) of UNESCO’s 2003
Convention for the Safeguarding of the Intangible Cultural Heritage for a period of 2022-2026 i.e. 4 years. India
is also a member of the World Heritage committee of UNESCO (2021-2025).
About United Nations Educational, Scientific and Cultural Organization (UNESCO):
Director-General – Audrey Azoulay
Founded – 1945 (came into force in 1946)
Headquarters – Paris, France
Members – 193 Members & 11 Associate Members

MCA extended the Tenure of Company Law Committee by 1 more year

The Ministry of Corporate Affairs (MCA) extends Company Law Committee (CLC) by one more year (up to 16th
September 2023). The tenure has already been extended twice in September 2020, and September 2021 which
was originally constituted on 8th September 2019.

• In 2019, the Government set up the 11-member CLC under the Chairmanship of the MCA
Secretary.
• At present,11-member CLC is chaired by corporate affairs secretary Tarun Bajaj.
Key Highlights:
i. CLC recommends various changes which pertain to the issues of the implementation of the Companies Act,
2013 and the Limited Liability Partnership (LLP) Act 2008.
ii. The National Company Law Tribunal (NCLT) will hear the cases related to the company.
iii. The Companies Act, 2013 has 29 chapters divided into 470 sections in which different parties (related to
the company) can attract penalties, fines, prison, or some serious actions, according to the offence made by an
individual.
iv. LLP Act 2008, benefits the limited liability of a company and the flexibility of a partnership.

MeitY Approves Rs 500 Crore Pune Electronics Manufacturing Cluster Project

The Ministry of Electronics and Information Technology (MeitY) has approved a Rs. 500 crore Electronics
Manufacturing Cluster (EMC) in Pune, Maharashtra. The EMC will be built in Pune’s Ranjangaon Phase III on
297 acres of land.
• The project is expected to attract up to Rs. 2,000 crore in investments.
• It would also receive nearly Rs. 208 crore in funding from the Government of India (GoI).
Note: Currently, proposals from Uttarakhand and Telangana are being considered.
Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme
i.On April 1, 2020, the Modified EMC 2.0 Scheme was announced, with the goal of establishing electronics
manufacturing companies to develop a strong ecosystem.

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• Objective: To grant funding for the establishment of Common Facility Centres (CFCs) and EMC
projects.
• EMC 2.0 scheme was notified on 1st April 2020 with an implementation period of 8 years. (i.e., up to
March 2028). The scheme is open for receipt of applications till 31st March 2023
ii.To be eligible for EMC 2.0, applicants must commit to a minimum investment of Rs. 300 crore, with financial
support from the GoI limited to a maximum of 50% and a ceiling of Rs. 70 crore per 100 acres of land.
• An advance of 30% of the total is offered to applicant companies, and the remaining 40% is released
when the company utilized the fund allocated as advance and has met certain criteria, like acquiring
a land allocation.
• The MeitY will release the final instalment once the project is completed.
iii.The MeitY will establish a governing council, led by the MeitY secretary, to monitor the progress of the
scheme.
• The council will be made up of specialists from the public and private sectors, and it will be
empowered to make modifications to the scheme guidelines to ensure its successful
implementation.

Digital India Mission: UP Tops in Disposal & Entry of Cases Via E-Prosecution Portal
According to data collected till August 2022, Uttar Pradesh (UP), with 9.12 million cases, holds the top spot in
terms of the number of cases entered and disposed through the E-Prosecution Portal, which is administered
by the Government of India (GoI) as part of its Digital India Mission.
Key Points:
i.In terms of number of the cases entered, Madhya Pradesh (MP) came in second place with 2.31 million cases,
followed by Bihar with 859,000 cases, Gujarat with 487,000 cases, and Chhattisgarh with 383,000 cases.
ii.With around 470,000 entries, UP surpasses all other states in the online case disposal on this portal,
followed by MP with 170,000 cases and Gujarat with 125,000 cases.
iii.According to the latest data from the National Crime Records Bureau (NCRB), UP also takes the top spot
for convictions for crimes against women, cybercrime cases, convicts found guilty of offences under the Indian
Penal Code (IPC), and illegal firearm seizures.
E-Prosecution Portal
i.The E-Prosecution Portal is a joint initiative of the Ministry of Home Affairs (MHA), Ministry of Electronics and
Information Technology (MeitY) and Ministry of Law and Justice.
• It was launched by Indian states in 2020 to support courts and the prosecution system in speeding
criminal trials in heinous crimes.
ii.The portal enables e-communication between the police department and the prosecution directorate under
the Inter-Operable Criminal Justice System (ICJS).
• The ICJS permits the transfer of data between courts, police, jails, and forensic science laboratories.

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iii.Under the system, officials ensure that witnesses are notified through SMS of their court appearance date;
approach the relevant government advocates; and assist in the timely disposal of cases, with the complete case
database tailored to aid prosecution.

IILM University Launches 1st NEP 2020 Compliant Law School in India
Institute of Integrated Learning in Management (IILM) University, Greater Noida, Uttar Pradesh(UP)
launched the first National Education Policy 2020 (NEP 2020) Complaint Law School in India with an aim to
elevate the legal education system of India.
• The IILM Law School, known for its state-of-the-art infrastructure, has been launched with the
approval of the UP Government and the recognition of the Bar Council of India (BCI).
• The school also has a Legal Aid and Advice Centre as required by the Constitution of India, the
Legal Services Authorities Act, 1987 and the multiple directives of the Supreme Court of India.

GoI set to rename Delhi’s Rajpath & Central Vista lawns as ‘Kartavya path’
The Government of India(GoI) is set to rename the historic “Rajpath” and “Central Vista lawns” in New Delhi,
Delhi as ‘Kartavya Path’ (Path of Duty). The road and area from the Netaji statue at India Gate to the
Rashtrapati Bhavan will be known as the Kartavya path.
• During British rule, Rajpath was known as ‘Kingsway’, named after King George V and following the
independence of India, it was renamed “Rajpath” – Hindi translation of Kingsway.
• The New Delhi Municipal Council (NDMC) convened a special meeting on 7th September 2022 to
discuss the renaming of Rajpath and Central Vista lawns as Kartavyapath.

Fuelflip Energy develops India’s first Air-gas Mixer

Fuelflip Energy is the 1st company to manufacture Air Gas Mixer – a product that is Made in India after the
complete research and development with the use and installation of the Dual Fuel systems for over 6 years.
• Fuelflip Energy is an impact technology startup that aim of Fuelflip is to provide clean air and reduce
the harsh environmental effects of using diesel generators.
• The company had developed the Internet of Things (IoT) to enable the Dual-Fuel conversion system
for Diesel Generators.
• The company has also developed its Retrofit Emission Control Devices (Feve RECD) in a joint
venture to ensure the reduction of Particulate Matter 2.5 from the exhaust emissions of diesel
gensets.
• Various components for the Dual-Fuel system are imported from Italy, Germany and USA. One such
integral part of the system is an Air-gas Mixer which was never before developed in India.

BANKING & FINANCE

Retail payment products of HDFC Bank, Precision Biometric chosen for Test Phase under RBI’s
Regulatory Sandbox
On September 5, 2022, the Reserve Bank of India (RBI) selected HDFC Bank (in partnership with Sweden-based
Crunchfish Aktiebolag) and Precision Biometric India Pvt. Ltd for the Test Phase of the ‘On Tap’ application
facility for the theme ‘Retail Payments ‘ under RBI’s Regulatory Sandbox (RS).
• HDFC Bank is selected for its ‘Offline Retail Payments’, while Precision Biometric India Pvt chosen
for its ‘InnaIT Key Solution for Banking’.
• The opening of the ‘On Tap’ application facility for theme ‘Retail Payments’ was announced by RBI in
October 2021.

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Products Description:
i.Offline Retail Payments: It enables customers to pay and receive payments in offline mode. It aims to boost
adoption of digital payments in areas of no or low network by enabling transactions without the need to have a
network connection.
ii.InnaIT Key Solution for Banking: It offers a solution enabling biometric tokens which can be used for
secure password less authentication and Additional Factor Authentication (AFA), instead of an OTP (One Time
Password), for logging into internet/ mobile banking. The solution combines Public key infrastructure (PKI)
and Biometric to enhance security and user experience in digital payments space.
Key Points:
i.RBI also announced the 5th Cohort under RS which will be themed ‘neutral’.
ii.RBI introduced a Regulatory Sandbox (RS) in 2019 to foster responsible innovation in financial services,
promote efficiency and expand benefits to consumers. It refers to live testing of new products and services
conducted in a controlled environment.
• RS allows regulators, innovators, financial services providers and customers to conduct field tests to
collect evidence on the benefits and risks of new financial innovations while carefully monitoring
and containing risk.
iii.The Previous 4 Cohorts under RS are
• First- Retail Payments
• Second- Cross Border Payments
• Third- MSME lending
• Fourth- Prevention and Mitigation of Financial Frauds
iv.On Tap facility: Based on the experience gained from the 1st and 2nd Cohorts and the feedback from
stakeholders, the ‘Enabling Framework for Regulatory Sandbox’ has been updated to include ‘On Tap’
application facility for themes of closed cohorts.
• An ‘on-tap’ facility would mean the RBI will accept applications and grant license for banks
throughout the year. The policy allows aspirants to apply for universal bank license at any time,
subject to the fulfillment of the set conditions. It is for the first time in post nationalization phase
that there comes such an open bank license policy.
Recent Related News:
i.On 4th July 2022 HDFC Bank received no objection letter from Reserve Bank of India (RBI) merging HDFC
(Housing Development finance Corporation) Ltd and HDFC Bank. BSE Limited and NSE (National Stock
Exchange) have also issued observation letters for the proposed merger.
ii.Online payment providers Razorpay, Pine Labs and american payments player Stripe are the 1st players to
receive in-principle approval from Reserve Bank of India for payment aggregator (PA) and Gateway licence.
About Reserve Bank of India (RBI):
i.The Reserve Bank of India was established on April 1, 1935, in accordance with the provisions of the RBI Act,
1934.

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ii.The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to
Mumbai in 1937.
iii.Though originally privately owned, since nationalization in 1949, the Reserve Bank is fully owned by the
Government of India.

ECONOMY & BUSINESS

MoF Releases 28th Edition of Status Report On India’s External Debt 2021-22
The 28th edition of ‘India’s External Debt: A Status Report 2021–22’ has been published by the External
Debt Management Unit (EDMU) under the Department of Economic Affairs (DEA), Ministry of Finance (MoF).

• The report offers a comprehensive analysis of the trends, composition and debt service of India’s
external debt up to End-March 2022.
• According to it, India’s external debt at the End-March 2022 was USD 620.7 billion.
Key Facts
• The report also provides a cross-country assessment of India’s external debt, which remains
sustainable and prudently managed, ranking 23rd globally.
• India’s sustainability was superior to numerous Low-and Middle-Income Countries (LMICs)
individually as well as the LMICs as a group in terms of various debt vulnerability indicators.
Key Data from The Report
i.India’s external debt increased from USD 573.7 billion at the End-March 2021 to USD 620.7 billion at the End-
March 2022, an increase of 8.20%.
• While 53.2% of it was in US Dollars (USD), 31.2% (second largest) of it was reported to be in Indian
Rupees (INR).
• 90% of the total external debt was made up of Commercial borrowings (CBs), Non-resident Indian
(NRI) deposits, short-term trade credit, and multilateral loans.
ii.External debt as a ratio of Gross Domestic Product (GDP) declined to 19.9% at the End-March 2022, down
from 21.20% at End-March 2021.
iii.At the End-March 2022, the ratio of foreign currency reserves to external debt was 97.8%, down from
100.6% at End-March 2021.
iv.The long-term debt, estimated at USD 499.1 billion, accounted for 80.4% of the total, while the short-term
debt, estimated at USD 121.7 billion, accounted for 19.6% of the total.
• Short-term trade credit was mostly in the form of trade credit (96%), which was used to finance
imports.
v.Due to the increased grant of Special Drawing Rights (SDR) by the International Monetary Fund (IMF) during
2021–2022, Sovereign External Debt (SED) stood at USD 130.7 billion by the End-March 2022, an increase of
17.1% over End-March 2021.

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vi.At USD 490.0 billion as of the End-March 2022, Non-Sovereign External Debt increased by 6.1% from End-
March 2021.
• About 95% of Non-Sovereign External Debt was made up of CBs, NRI deposits, and short-term trade
credits.

5 PSLV rockets to build by HAL-L&T Consortium & bags Rs 860 crore deal from NSIL
The Hindustan Aeronautics Limited (HAL) and Larsen & Toubro (L&T) were given Rs 860 crore to
build 5 Polar Satellite Launch Vehicles (PSLVs) rockets, the versatile workhorse launch vehicle of India and the
contract has been signed by the Indian Space Research Organisation (ISRO).

• This project was announced on 5th September 2022, at the 7th edition of the biennial Bengaluru
Space Expo (BSX-2022) which was organised by the Confederation of Indian Industry (CII) in
association with ISRO.
• NewSpace India Limited (NSIL), under the Department of Space (DoS) and ISRO, has signed
a service level agreement with the industry for production.
Key Highlights:
i. Since 1990, ISRO provides satellite launch services through PSLV carried out more than 52 successful flights
and rockets, and achieved its operational status.
ii. 104 satellites have been injected by PSLV and made a world record in September 2016.
iii. To undertake end-to-end production of PSLV, the HAL-L&T consortium emerged and became the technically
qualified L1 bidder and it was approved by the Government to increase the authorised share capital of NSIL
from Rs 1,000 crore-Rs 7,500 crore.
Note: According to the report, NSIL plans for the release of an entirely-built GSLV-MK III rocket from Indian
industry partners.

AWARDS & RECOGNITIONS

Lok Nayak Foundation Sahitya Puraskar presented to Tanikella Bharani in Vizag
On 5 September 2022, Telugu writer and actor, Tanikella Bharani was presented with the annual Sahitya
Puraskar of the Loknayak Foundation (18th Loknayak Foundation Award) at an award ceremony held at
Kalabharathi Auditorium, Visakhapatnam (Vizag), Andhra Pradesh(AP).
• The Governor of Mizoram, Kambhampati Haribabu, who participated as the Chief Guest, felicitated
the award to Tanikella Bharanialong with actor Manchu Mohan Babu and others. Justice Jasti
Chelameswar, a retired Judge of the Supreme Court was also present.
• The Loknayak foundation has been giving the annual award for the past 18 years(since 2005).
About Tanikella Bharani:
i.Tanikella Bharani is an Indian actor, screenwriter, poet, playwright and director who mostly works in Telugu

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films.
ii.He has worked in more than 750 films in Telugu, Tamil, Kannada and Hindi.
iii.He has won 3 Andhra Pradesh State Nandi Awards.
About the award:
i.The award is popularly referred to as ‘Andhra Jnanpith’. It carries a cash prize of Rs 2 lakh.
• The award is given annually to an eminent Telugu writer or poet or a person credited with service
for the cause of Telugu literature.
ii.Generally, the award is presented on 18th January annually to mark the death anniversaries of former Chief
Minister(CM) NT Rama Rao(NTR) and writer Harivansh Rai Bachchan.
iii.Loknayak Foundation award winners are announced on 24th November every year on the birthday of Dr
Lakshmi Prasad Yarlagadda.
About Loknayak Foundation:
President- Dr Yarlagadda Lakshmi Prasad
Location– Visakhapatnam (Vizag), Andhra Pradesh

APPOINTMENTS & RESIGNATIONS

Captain B K Tyagi took over as CMD of Shipping Corporation of India
On 3rd September 2022, Binesh Kumar Tyagi took over as the Chairman & Managing Director (CMD) of the
Shipping Corporation of India Limited (SCI), a Navratna Central Public Sector Enterprises (CPSE) under the
Ministry of Ports, Shipping & Waterways (MoPSW).

• The proposal of Captain B K Tyagi has been signed off by the Appointments Committee of the
Cabinet (ACC) and his service as CMD is for 5 years.
About Shipping:
i. Previously, Tyagi is the Director looking after the Liner and Passenger Services Division (L&PS) at SCI from
8th January 2021 and hold the additional charge as Director of Technical & Offshore services (T&OS) between
2021 and 2022.
ii. Capt. B K Tyagi joined SCI in 1990 after his graduation as Trainee Nautical Officer Cadet (TNOC)- SCI-
Maritime Training Institute.
iii. Since 20th November 2020, he was on the board of the International Council for School Leadership (ICSL)
and has contributed to the field of Inland Water Transport (IWT).
About Shipping Corporation of India Limited (SCI):
Chairman & Managing Director (CMD)- Binesh Kumar Tyagi
Establishment- 2nd October 1961
Headquarters- Mumbai, Maharashtra

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ACQUISITIONS & MERGERS

CCI Approves Acquisition of 100% of Equity Share Capital of IIL by PayU India
The Competition Commission of India (CCI) approved the final acquisition of 100% of the equity share capital
of IndiaIdeas.com Limited (IIL) or BillDesk by PayU Payments Private Limited (PayU India).
Target- IndiaIdeas.com Limited (IIL)

Acquirer- PayU Payments Private Limited (PayU India)

• The approval was given under Section 31(1) of the Competition Act, 2002.
• The proposed transaction involved novel assessment by the CCI of dynamic digital markets.
• The proposed transaction falls under Section 5(a) of the Competition Act, 2002 (as amended).
• The deal, which was first announced in August 2021, was approved after a long wait as CCI sought
additional details from PayU.
About the acquisition:
i.PayU India is involved in providing payment aggregation services, which enables merchants (and other
entities) to receive payments from their customers across various digital payment methods.
ii.IIL is an unlisted public limited company. It uses the name “BillDesk” as its trading/ business/ brand name in
India.
• It also provides payment aggregation services, which enable merchants (and other entities) to
receive payments from their customers across various digital payment methods.
iii.The shares of PayU India are indirectly held by Prosus N.V. (“Prosus”). The acquisition brings PayU owner
Prosus’ total investments in India to USD 12 billion.
• Prosus has a primary listing on Euronext Amsterdam. Naspers Limited holds 73.6% voting rights in
Prosus. Naspers is listed on the Johannesburg Stock Exchange.
CCI approves acquisition of stake in Apraava Energy Private Limited by CDPQ Infrastructures Asia II
Pte. Ltd.
The CCI approves the acquisition of stakes in Apraava Energy Private Limited by CDPQ Infrastructures Asia II
Private Limited under Section 31(1) of the Competition Act, 2002.
Target-Apraava Energy Private Limited
Acquirer- CDPQ Infrastructures Asia II Pte. Ltd.
About the acquisition:
i.The Proposed Combination involves acquiring an additional 10% shareholding in Apraava Energy Private
Limited from CPL GPEC (Mauritius) Holding Limited.
ii.Currently CDPQ Infrastructures Asia II Pte. Ltd. holds 40% shareholding in Apraava Energy Private Limited.
CDPQ Infrastructures Asia II Pte. Ltd.- it is a Singapore-based company which is direct and wholly owned
subsidiary of Caisse de dépôt et placement du Québec, a long-term institutional investor that manages funds
primarily for public and para-public pension and insurance plans.

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Apraava Energy Private Limited- it is among the leading Independent Power Producer (IPP) in India, with an
investment spread across renewable energy (including wind and solar), transmission, supercritical coal and gas
fired generation.
• It entered India in 2002 and expanded its portfolio of operating conventional and renewable assets.
About Competition Commission of India (CCI):
Founded-14 October 2003
Headquarters– New Delhi, Delhi
Chairperson-Ashok Kumar Gupta

RIL acquired a 79.4% stake in SenseHawk Inc for USD 32 million

An Indian multinational conglomerate company, Reliance Industries Limited (RIL) announced in the Bombay
Stock Exchange (BSE) filing that the company had paid USD 32 million and acquired a majority stake of 79.4%
to control the ownership in the United States (US)-based SenseHawk Inc.

Note: SenseHawk, is a startup California-based developer of software-based management tools for Solar energy
generation.
Key Highlights:
i. Mukesh Ambani, Chairman and Managing Director (CMD) of RIL collaborates with SenseHawk to
revolutionize the Green Energy Sector and has the vision to enable 100 GW (GigaWatt) of Solar Energy
by 2030.
ii. The other investments of RIL with SenseHawk, new energy will be collaborative and create unique solutions
with higher value to customers.
iii. SenseHawk’s Solar Digital Platform (SDP) aims at pre-construction evaluation, process optimisation,
construction management, and operations and management and provides improved communication between
teams for early detection.

SPORTS
Mastercard acquires Title Sponsorship Rights for all BCCI International and Domestic Matches
On 5th September 2022, Mastercard announced its collaboration with the Board of Control for Cricket in India
(BCCI), under which Mastercard will be the Title Sponsor for all international and domestic cricket matches of
the BCCI to be held in India.
• Mastercard will hold the sponsorship rights for the 2022-23 season.
• Mastercard replaced Paytm after the digital payments company reportedly backed out of its deal
with the Indian cricket board.
Key points:
i.Under the collaboration, Mastercard will work as the Title Sponsor for all international matches (both women
and men) held on home ground, domestic cricket matches like Irani Trophy, Duleep Trophy, and Ranji Trophy

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organized by the BCCI as also all junior cricket (Under 19 and Under 23) matches held in India.
ii.This partnership aims to enhance Mastercard’s connect with cricket lovers across India and beyond.
additional info:
i.Other international events sponsored by Mastercard are: Union of European Football Associations (UEFA)
Champions League, the Grammys, the Cannes Film Festival and the Australian and French Open tennis
tournaments.
ii.In 2018, Mastercard appointed Mahendra Singh Dhoni (MSD), the former Indian cricket captain, as its brand
ambassador.
About Board of Control for Cricket in India(BCCI):
The BCCI is the governing body for cricket in India.
President- Sourav Ganguly
Headquarters- Mumbai, Maharashtra
Founded- 1928

Badminton: Japan’s Kenta Nishimoto won Men’s Singles at Japan Open 2022; Japan’s Akane
Yamaguchi won Women’s Singles
Japanese badminton players, Kenta Nishimoto and Akane Yamaguchi won the men’s singles and women’s
singles titles at the Daihatsu Yonex Japan Open 2022, HSBC BWF World Tour Super 750 tournament.
• The tournament was organised at Maruzen Intec Arena Osaka in Osaka, Japan, from 30 August to 4
September 2022 with a total prize money of USD 750,000.
Highlights:
i.World no. 21, Kenta Nishimoto defeated World no. 6 Chou Tien-Chen (Taiwan) by 21-19, 21-23, 21-17 to
finally claim his first international title, having lost in his previous six final appearances.
ii.Two-time world champion World No 1. Akane Yamaguchi defeated An Se-Young (South Korea) by 21-9, 21-
15 in the women’s final to win her third women’s singles title at the Japan Open badminton.
iii.In Women’s Doubles, South Korea’s Jeong Na-Eun and Kim Hye-Jeong beat their compatriots Baek Ha-Na
and Lee Yu-Lim by 23-21, 28-26 to win the title.
iv.In Men’s Doubles, China’s Liang Wei Keng and Wang Chang defeated Denmark’s Kim Astrup and Anders
Skaarup Rasmussen by 21-18, 13-21, 21-17.
v.In Mixed Doubles, Thailand’s Dechapol Puavaranukroh and Sapsiree Taerattanachai beat Japan’s Yuta
Watanabe and Arisa Higashino by 16-21, 23-21, 21-18.
About the tournament:
i.The 2022 Japan Open was the 16th tournament of the 2022 BWF (Badminton World Federation) World Tour
and also part of the Japan Open championships, which had been held since 1977.
ii.This tournament was organised by the Nippon Badminton Association with sanction from the BWF.

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STATE NEWS
President Murmu appoints Justice M Duraiswamy as the Chief Justice of Madras High Court
On 5th September 2022, In exercise of the power conferred by Article 223 of the Constitution of
India, President of India Draupadi Murmu appointed Hon’ble Justice M. Duraiswamy as the acting Chief
Justice of Madras High Court (HC) with effect from 13th September 2022 after the retirement of current Chief
Justice Munishwar Nath Bhandari. The appointment was notified by the Ministry of Law and Justice (MoLJ),
Government of India (GoI).
• Duraiswamy started his career as an Advocate in the Bar Council of Tamil Nadu and Puducherry in
1987.
• He worked under Justice A.S.Venkatachalamoorthy, former Chief justice of the Chhattisgarh High
Court as his Junior.
• Between 1997-2000, Duraiswamy was appointed as Central Government Standing Counsel and
elevated as Additional Judge of the Madras HC in 2009 and finally appointed as a judge in the
Madras HC in 2011.

Airtel partnered with Odisha to offer Bill Payment Solution

Bharti Airtel launched a project in partnership with Tata Power Northern Odisha Distribution Limited
(TPNODL), a joint venture(JV) between Tata Power and the Government of Odisha to offer bill payment
solutions to over 2 million registered customers. The initiative will mobilise the 4,000 banking points of Airtel
Payment Banks (APB) in North Odisha to facilitate bill payment. The customers of TPNOLD need to visit the
store and provide their contact numbers and consumer numbers at the banking point.
• The front-end solutions are managed by Airtel Payments Bank and the back-end connectivity will be
monitored by Airtel IQ. Airtel IQ is the world’s first network-integrated Communication Platform
as a Service (CPaaS) ecosystem.
• TPNODL has facilitated electricity bill payment through various physical avenues like Mo Seba
Kendra, CSC, empowering digital payment options through BBPS, TPNODL Website, and My TATA
POWER App.

*******

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