KVIC cancels license of oldest Khadi Institution “Khadi Emporium”
Khadi and Village Industries Commission (KVIC) has cancelled the “Khadi Certification” of its oldest Khadi Institution named Mumbai Khadi & Village Industries Association (MKVIA). This MKVIA was running the popular “Khadi Emporium” at Metropolitan Insurance House, Mumbai since 1954. KVIC has cancelled the license of MKVIA as the latter had started selling fake Khadi products, which was against the “zero-tolerance” policy of KVIC against the sale of spurious/non-Khadi products.
Why was this step taken?
- The action came after KVIC found that the said Khadi Emporium at D.N. Road was selling non-Khadi products in the guise of genuine Khadi. During a routine inspection, KVIC officials collected samples from the Emporium that were found to be non-Khadi products.
- KVIC issued a legal notice to MKVIA for flouting the norms of the “Khadi Certificate” and “Khadi Mark Certificate” issued by the Commission. With the cancellation of the registration, Khadi Emporium ceases to be a genuine Khadi Outlet and is no longer permitted to sell Khadi products from the Emporium.
- KVIC is also contemplating legal action against the MKVIA for criminal breach of trust and cheating the public at large by misusing the credibility and popularity of brand Khadi.
Important takeaways for all competitive exams:
- KVIC Founded: 1956;
- KVIC Headquarters: Mumbai;
- KVIC Chairperson: Vinai Kumar Saxena;
- KVIC Parent agency: Ministry of Micro, Small and Medium Enterprises.
Swarajability: India’s first AI-based job platform for persons with disabilities
The Indian Institute of Technology (IIT-Hyderabad) has launched the beta version of ‘Swarajability’, a job portal powered by artificial intelligence that helps people with disabilities acquire relevant skills and find jobs. The platform will analyse the profiles of the job seekers and suggest the skills they would require to become eligible. A platform that addressed this challenge would help this vulnerable section of the population.
The institute has developed the platform in association with Youth4Jobs, Visual Quest and Kotak Mahindra Bank Ltd. While IIT-H offers its expertise in AI, Visual Quest India has developed the platform. Youth4Jobs provides skilling services to job seekers. The project is funded by Kotak Mahindra Bank. There are 21 million persons with disabilities in the country. About 70 per cent of them are either unemployed or underemployed.
PM Modi inaugurates 50th Anniversary Celebrations of Hyderabad-based ICRISAT
Prime Minister Narendra Modi has inaugurated the 50th Anniversary celebrations of the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) in Patancheru, Hyderabad. During the occasion, PM also inaugurated two research facilities of ICRISAT, which were Climate Change Research Facility on Plant Protection and Rapid Generation Advancement Facility.
These two facilities are dedicated to the smallholder farmers of Asia and sub-Saharan Africa. Prime Minister also unveiled a specially designed logo of ICRISAT and launched a commemorative stamp issued on the occasion. Its objective is to conduct agricultural research for rural development, in Asia & sub-Saharan Africa.
Important takeaways for all competitive exams:
- ICRISAT Headquarters: Patancheruvu, Hyderabad;
- ICRISAT Founded: 1972;
- ICRISAT Founders: M. S. Swaminathan, C. Fred Bentley, Ralph Cummings.
Sourav Ganguly laid the foundation stone of world’s third-largest cricket stadium
Rajasthan Chief Minister, Ashok Gehlot and BCCI President Sourav Ganguly laid the foundation stone of the world’s third-largest cricket stadium in Jaipur. The International Cricket Stadium in Jaipur will be the second-largest cricket stadium in India and the third-largest in the world. The new international stadium will be built by the Rajasthan Cricket Academy (RCA) on the Jaipur-Delhi bypass, over 100 acres of land in Jaipur. The stadium will have a seating capacity of 75,000 spectators.
Key points:
- Currently, Narendra Modi Stadium (former Motera Stadium) in Ahmedabad is the world’s largest stadium with a capacity of 132,000 spectators.
- The second-largest stadium is Australia’s Melbourne Cricket Ground (MCG) which has a capacity of 1,00,024 spectators.
BJP’s first torchbearer in Lok Sabha, C Janga Reddy passes away
Veteran Bharatiya Janata Party (BJP) leader, Chandupatla Janga Reddy has passed away in Hyderabad following health issues. He was a native of Warangal and a former MLA in Andhra Pradesh. He is best known for his time as a Member of Parliament in the 8th Lok Sabha in 1984, which also marked the BJP’s debut in the Lok Sabha, following Indira Gandhi’s assassination.
Reddy was one of the only two BJP MPs who got elected to the Lok Sabha in 1984 in 543 Parliament constituencies. The other was A K Patel. He was elected to the Legislative Assembly in undivided Andhra Pradesh thrice.
IOC approves proposal to include new sports at 2028 Olympics
International Olympic Committee (IOC) has approved a proposal to include Surfing, Skateboarding and Sport Climbing for the 2028 Summer Olympics Games that will be organized in Los Angeles, United States. The 2028 Summer Olympics are officially known as the Games of the XXXIV Olympiad, or Los Angeles 2028 is a forthcoming event scheduled to take place from July 21 – August 6, 2028, in Los Angeles, California, US.
The 2024 Summer Olympics Games will be organized in Paris, France. With this Paris becomes only the second city to host 3 Summer Olympic games. Surfing, Skateboarding and Sport Climbing had made their Olympic debut in Tokyo Olympics 2021 and will also be included in the “additional” list for Paris in 2024. Boxing, weightlifting and modern pentathlon also have the chance to be included in upcoming Olympics games.
Important takeaways for all competitive exams:
- International Olympic Committee Headquarters: Lausanne, Switzerland;
- International Olympic Committee President: Thomas Bach;
- International Olympic Committee Founded: 23 June 1894, Paris, France.
Kotak General Ins. partners CARS24 to offer Motor Insurance for used cars
Kotak Mahindra General Insurance Company has signed an agreement with Cars24 Financial Services Private Limited (CARS24 Financial Services) to provide motor insurance services to used car buyers. Under the partnership, used car buyers from Cars24 will be directly provided with Kotak General Insurance’s comprehensive motor insurance plans.
The partnership will provide a trustworthy and faster way to avail of motor insurance with a fully digital insurance process. Customers can also avail of cashless claims servicing at Kotak General Insurance’s platform of garages and enable convenient claim settlement services.
Important takeaways for all competitive exams:
- Kotak Mahindra General Insurance Headquarters: Mumbai, Maharashtra;
- Kotak Mahindra General Insurance MD & CEO: Suresh Agarwal.
LIC tie-up with Policybazaar for digital distribution of life insurance
Life Insurance Corporation (LIC) has tied up with Policybazaar to digitally offer a wide range of Life Insurance and investment products to its customers across India. This is LIC’s first association with a private insurance aggregator, which has mainly relied on its 1.33 million agents for distributing products. To facilitate seamless digital distribution of life insurance products and boost financial inclusion across India.
The benefit of the tie-up:
The alliance will provide insurance services in smaller cities to ensure financial inclusion and social security. It will increase its penetration digitally in rural and remote areas and offer a wide range of term and investment products to the customers.
Important takeaways for all competitive exams:
- Life Insurance Corporation of India Founded: 1956;
- Life Insurance Corporation of India Headquarters: Mumbai, Maharashtra;
- Life Insurance Corporation of India Chairperson: M R Kumar.
GoI approved renaming of three places in Madhya Pradesh 2022
The government of India (GoI) has approved the renaming of 3 places in Madhya Pradesh, Hoshangabad Nagar as “Narmadapuram”, Shivpuri as “Kundeshwar Dham” and Babai as “Makhan Nagar”. In 2021, the government of MP led by Shivraj Singh Chouhan has proposed the renaming of the 3 places in Madhya Pradesh. The approval for the renaming was granted by the Ministry of Home Affairs (MHA).
The Hoshangabad Nagar named after Hoshang Shah, the first formally appointed Sultan of the Malwa Sultanate of Central India was renamed as Narmadapuram. Babai has been renamed after the renowned journalist and poet Makhanlal Chaturvedi. Makhanlal Chaturvedi was born in Babai, MP. The government has named a national university of journalism and communication at Bhopal after Makhanlal in 1992.
Important takeaways for all competitive exams:
- Madhya Pradesh Capital: Bhopal;
- Madhya Pradesh Governor: Mangubhai C. Patel;
- Madhya Pradesh Chief Minister: Shivraj Singh Chouhan.
Govt of India has done a Switch Operation of Rs. 1,19,701 crores
The Government of India has done a conversion switch transaction of its securities with the Reserve Bank of India (RBI) for an amount of 1,19,701 crores (face value). The transaction involved buying back securities that are being matured in FY 2022-23, FY 2023-24 and FY 2024-25 from the RBI and also issuing fresh securities for equivalent market value, to make the transaction cash neutral.
The transactions were carried out using Financial Benchmarks India Private Limited (FBIL) prices as of January 28, 2022. The GOI undertakes switch operations with RBI and also with market participants to smoothen the liability profile as well as for market development.
Government securities:
They are the debt instruments. They are issued by GoI. The two categories of government securities are short term instruments that mature in 91 days, 182 days or 364 days and long term instrument that matures within 5 years to 40 years. The securities are cleared by the clearing Corporation of India Limited. These securities are issued through auctions conducted by RBI.
Former President of Greece Christos Sartzetakis passes away
Former Greek President Christos Sartzetakis has passed away at the age of 92 years due to respiratory failure in Athens, Greece. He was a Greek jurist and a judge of the Supreme Court, who resisted against the militants during the 1967-1974 Rule of the Colonels. He served as the President of Greece for a four-year term (1985 to 1990), after getting nominated by the socialist PASOK party.
West Bengal launch open-air classroom programme ‘Paray Shikshalaya
West Bengal government has launched an open-air classroom programme Paray Shikshalaya (Neighbourhood Schools) for primary and pre-primary students. Under the ‘Paray Shikshalaya’ project, primary and pre-primary students of government schools will be taught in open spaces. The state government will also provide mid-day meals to the students of ‘Paray Shikshalaya’. The para teachers and primary school teachers would be part of this project. They will provide elementary education to children of Class 1-5.
Important takeaways for all competitive exams:
- Chief Minister of West Bengal: Mamata Banerjee; Governor: Jagdeep Dhankhar.
Professor Dinesh Prasad Saklani named as new NCERT director
Professor Dinesh Prasad Saklani has been appointed as the new Director of the National Council of Educational Research and Training (NCERT). He has replaced Hrushikesh Senapaty, who finished his term a year ago. The new director has been appointed for a period of five years with effect from the date of assumption of charge of the post, or till he attains the age of 65 years, or until further orders, whichever is earlier.
Professor Dinesh Prasad Saklani:
Professor Saklani has been awarded with Distinguished Academy Award by Punjab Kala and Sahitya Academy, Jalandhar for Historical writing in 2005. The new director is a member of the Academic Council of Uttarakhand Open University, Haldwani. Professor Saklani is also a life member in the Indian History Congress; Uttarakhand History and Culture Association and of Book Club IIAS Shimla.
Important takeaways for all competitive exams:
- NCERT Headquarters: New Delhi;
- NCERT Founder: Government of India;
- NCERT Founded: 1961.
