Tata group replaces Chinese mobile manufacturer Vivo as IPL title sponsor
The Board of Control for Cricket in India (BCCI) has informed that Tata group has replaced Chinese mobile phone manufacturer Vivo as the title sponsor of the Indian Premier League (IPL) for the 2022 and 2023 seasons. The multinational conglomerate will pay Rs. 300 crore per year as the title sponsor of IPL for the next two seasons. This is about 60% of what Vivo would have paid.
Important takeaways for all competitive exams:
- Tata group Founder: Jamsetji Tata;
- Tata group Founded: 1868, Mumbai;
- Tata group Headquarters: Mumbai;
- Chairman of the Board at Tata Sons: Natarajan Chandrasekaran.
Henley Passport Index 2022: India Ranks 83rd in Q1
India has improved its position by seven places to rank at 83rd place among 111 countries in the latest Henley Passport Index, released for Q1 of 2022. India ranked at 90th spot among 116 countries in Q4 of 2021 in October. The Indian passport has visa-free access to 60 destinations worldwide in Q1 2022, as compared to 58 destinations in Q4 of 2021. Oman and Armenia are the latest destinations where Indian passport holders can visit without obtaining a visa.
On a global level:
Japan and Singapore have retained the joint top position in the Henley Global Mobility Report 2022 Q1. Their passports holders are allowed to travel visa-free to 192 countries. Afghanistan has the world’s least powerful passports, with a visa-free score of 26.
UBS Projects India’s GDP forecast at 9.1% in FY22
Swiss brokerage UBS Securities has lowered the growth forecast of the Indian economy for the current financial year (FY22) to 9.1 per cent due to a massive surge in Omicron infections. Earlier this was estimated at 9.5 per cent. However, UBS Securities has revised upwards the real GDP forecast of India in FY23 to 8.2 per cent. This was projected at 7.7 per cent earlier.
World Bank projects India’s GDP growth at 8.3% in FY22
The World Bank has projected the Indian economy to grow at the following rate in its ‘Global Economic Prospects’ report released on January 11, 2022. The World Bank retained its FY22 growth forecast for India at 8.3 per cent but upgraded it to 8.7 per cent for FY23, from 7.5 per cent estimated earlier, citing improving growth prospects, especially a reviving private capex cycle.
The forecast for FY2022/23 and FY2023/24 for India has been upgraded to 8.7 per cent and 6.8 per cent, respectively, reflecting higher investment from the private sector and in infrastructure, and dividends from ongoing reforms.
World Bank has lowered the Global economy growth rate as follows:
- 2021 – 5.5 per cent
- 2022 – 4.1 per cent
- 2023 – 3.2 per cent
Supreme Court appoints 5-member panel headed by former judge Indu Malhotra
The Supreme Court of India has constituted a five-member committee to probe the security breach during the recent visit of Prime Minister Narendra Modi to Punjab. The committee will be headed by former apex court judge Justice Indu Malhotra. Other members of the panel include the Inspector General of the National Investigation Agency (NIA), the Director-General of Police of Chandigarh, the Registrar General of the Punjab and Haryana High Court and the Additional DGP (Security) of Punjab.
Points of reference of the panel:
- To inquire who all are responsible for the security breach and to what extent the remedial measures are necessary.
- Give suggestions on the security of constitutional functionaries ensuring that such incidents do not take place in future.
DRDO successfully test-fires final deliverable configuration of MPATGM
Defence Research and Development Organisation (DRDO) successfully flight tested the Man-Portable Anti-Tank Guided Missile (MPATGM), in its final “deliverable configuration”. MPATGM will be manufactured by Bharat Dynamics Limited at its facility in Bhanoor, Telangana.
About the missile:
- The purpose of testing the missile was to check its consistent performance at a minimum range, which is 200-300 metres.
- MPATGM has already completed a similar successful test for a maximum range of 4,000 metres.
- With this successful test of the MPATGM, the system is now ready for production in large numbers in India.
India’s oldest sloth bear ‘Gulabo’ passes away at Van Vihar National Park
India’s oldest female sloth bear, whose name was Gulabo, has passed away at the Van Vihar National Park and Zoo, located in Bhopal, Madhya Pradesh. Gulabo was the oldest sloth bear of the country. She died at the age of 40. She was rescued from a street performer (Madaari) in May 2006, when she was 25 years. Gulabo was one of the star attractions in the park. The Van Vihar National Park, located on the banks of Bhopal’s Upper Lake, also runs a rescue and breeding centre for sloth bears.
Centre will hold 35.8% stakes of Vodafone Idea in the form of equity
The Central Government of India is set to become the largest shareholder in Vodafone Idea. The company’s board approved the conversion of Rs 16,000 crores in interest into equity. India’s third-largest network Vi or Vodafone Idea Limited (VIL) has approved the interest on the spectrum and Adjusted Gross Revenue (AGR) dues into government equity.
VIL accepted a four-year moratorium as well as accepted the equity conversion, which means the Indian government will own almost 35.8% of VIL’s stake followed by Vodafone Group which owns 28.5% and 17.8% by Aditya Birla Group.
RajKummar Rao named as brand ambassador of RenewBuy
RenewBuy, an online insurance platform, has appointed Rajkummar Rao as the brand ambassador for its 1st 360-degree consumer advertising campaign that highlights consumers’ insurance needs. The campaign was designed and conceptualised by Havas Worldwide India. “Smart Tech, Right Advice” is the theme of the campaign. This program aims to increase the spread of insurance policies digitally for consumers from any part of the country.
A book on Arundhati Bhattacharya “Indomitable: A Working Woman’s Notes on Life, Work and Leadership” released
HarperCollins is set to publish “Indomitable: A Working Woman’s Notes on Life, Work and Leadership” the autobiography of Arundhati Bhattacharya, retired Indian banker and former first-ever woman Chairperson of the State Bank of India. Indomitable features the story of Arundhati Bhattacharya’s life as a banker and the difficulties she faced in the male-dominated sector. She is the chairperson and the Chief Executive Officer (CEO) of salesforce India, a cloud-based Software as a service (SaaS) company headquartered in San Francisco, California, United States of America.
David Bennett world first human receives a Pig Heart Transplant
A US man has become the first person in the world to get a heart transplant from a genetically-modified pig. David Bennett, 57, is doing well three days after the experimental seven-hour procedure in Baltimore. The possibility of using animal organs for so-called xenotransplantation to meet the demand has long been considered, and using pig heart valves is already common.
Pigs are increasingly becoming popular candidates for organ transplantation. This is because their organs are anatomically similar to those of humans. What’s more, porcine components are more tuned for genetic engineering.
Rocket scientist S Somanath appointed as new ISRO chief
Indian Space Research Organisation (ISRO) has announced the appointment of the eminent rocket scientist Dr S Somanath as its new chairman and Space Secretary. He will succeed Kailasavadivoo Sivan who completes his extended tenure. The post of the ISRO chairman, the Space Secretary and the Space Commission chief is usually held by one person only.
Experience of Dr S Somanath:
Mr Somanath is an expert in a host of disciplines including launch vehicle design and has specialised in launch vehicle systems engineering, structural design, structural dynamics, integration designs and procedures, mechanism design, and pyrotechnics. He is currently the Director of Vikram Sarabhai Space Centre (VSSC) in Kerala’s Thiruvananthapuram. He was a team leader for the Integration of the Polar Satellite Launch Vehicle (PSLV) during the early phases of his career.
About Dr S Somanath:
- Somanath, born in July 1963, graduated in Mechanical Engineering from Kerala University, with the second rank in the university; and completed his Post Graduation in Aerospace Engineering from Indian Institute of Science (IISc), Bangalore with a Gold Medal for his meritorious performance.
- He is the recipient of the Space Gold Medal from the Astronautical Society of India (ASI), Performance Excellence Award-2014 and Team Excellence Award-2014 for GSLV Mk-III realization, from ISRO.
Important takeaways for all competitive exams:
- ISRO Headquarters: Bengaluru, Karnataka;
- ISRO established: 15 August 1969.
Retail inflation rises to 5.59% in December 2021
Retail inflation in December 2021 rose to a six-month high of 5.59 per cent from 4.91 per cent in November 2021, mainly due to a sharp rise in food prices as food inflation for the period under review also rose steeply to 4.05 per cent against 1.87 per cent in November 2021.
According to data released by the ministry of statistics and programme implementation, prices of cereals, egg, milk products and prepared meals went up during December 2021. Apart from these items, prices of clothing and footwear, education, health as well as recreation activities and transportation too witnessed a rise in December 2021 compared to November 2021.
