What is Repo Rate and Reverse Repo Rate in India?
What is Repo Rate
The Repo Rate is the rate at which a nation’s central bank gives money to commercial banks in the time of a cash shortage. Monetary authorities use the Repo Rate to limit inflation.
In the time of inflation, central banks increase the Repo Rate to prevent banks from borrowing from the central bank. Because of it, the money supply in the economy is reduced, which helps in containing inflation. In the event of a decrease in inflationary pressures, the central bank adopts the opposite stance. The liquidity adjustment facility includes Repo and Reverse Repo rates.
Current Repo Rate in India
In May 2022, the Reserve Bank of India changed the Repo Rate to 4.40% after a long time, increasing it by 40 basis points. Since May 2020, the RBI’s Repo rate has remained the same at a rate of 4%. This is the interest rate at which the Reserve Bank of India provides short-term money to Indian banks. High food costs drove retail inflation in India to a 17-month high of 6.95 percent in March, up from 6.07 percent in February. Interest rates will most likely be raised later this year if inflation concerns persist and there are no growth shocks.
The trend of Repo Rate updates by the Reserve Bank of India in the previous few years is:
Month of Change of Repo Rate | Repo Rate |
June 2019 | 5.75 % |
August 2019 | 5.40 % |
October 2019 | 5.15 % |
March 2020 | 4.40 % |
May 2020 | 4.00 % |
May 2022 | 4.40 % |
Repo Transaction:
The parameters on which the RBI agrees to perform the transaction with the banks are as follows:
- Preventing “squeezes” in the economy – The central bank adjusts the Repo rate in response to inflation. As a result, it seeks to govern the economy by limiting inflation.
- The RBI aims to hedge and leverage, by acquiring assets and bonds from banks and giving cash in return for the collateral posted.
- Short-Term Borrowing — The RBI provide loan money for a short length of time, up to an overnight period, after which banks purchase back their deposited securities at a predetermined price.
- Collateral and Securities — The RBI takes gold, bonds, and other forms of security as collateral.
Banks borrow money from the Reserve Bank of India to preserve liquidity or cash reserves as a precautionary measure.
What Impact Does the Repo Rate Have on the Economy?
The repo rate is a key tool in India’s monetary policy, with the ability to control the country’s money supply, inflation, and liquidity. Furthermore, the level of repo has a direct impact on banks’ borrowing costs. The cost of borrowing for banks will rise when the repo rate rises, and vice versa.
Arising Inflation:
- In the time of high inflation, the RBI makes intensive efforts to reduce the flow of money in the economy. Increasing the repo rate is one approach to accomplish the target. As a result, borrowing becomes more expensive for firms and sectors.
- Borrowing becomes prohibitively expensive for enterprises and sectors, slowing investment and money supply in the economy.
- As a result, it has a negative influence on economic growth, which helps to keep inflation under control.
Escalated Liquidity in Market:
When the RBI has to inject cash into the system, however, it reduces the repo rate. As a result, borrowing money for various investment goals is less expensive for enterprises and industries. It also expands the entire money supply in the economy. This, in turn, enhances the economy’s growth rate.
What is Reverse Repo Rate
The Reverse Repo Rate is the rate at which a country’s central bank borrows money from domestic commercial banks. It is an tool that can be used to control a country’s money supply. If the Reverse Repo Rate rises, the money supply falls, and vice versa, assuming all other variables remain constant. If the Reverse Repo rate increases, commercial banks will be more attracted to deposit their funds with the RBI, reducing the amount of money available in the market
Current Reverse Repo Rate in India
Indian Reverse Repo Rate is the fixed interest rate, at which the Reserve Bank of India absorbs liquidity from banks on an overnight basis in exchange for qualified government assets as collateral under the liquidity adjustment facility.
The Reverse Repo Rate in India currently stands at 3.75% which has been announced currently the Governor of RBI, Shaktikanta Das. From almost 2 years, the Reverse Repo Rate stood at 3.35%.
The trend of Reverse Repo Rate updates by the Reserve Bank of India in the previous few years is:
Month of Change of Repo Rate | Reverse Repo Rate |
May 2019 | 5.75 % |
June 2019 | 5.50 % |
August 2019 | 5.15 % |
October 2019 | 4.90 % |
March 2020 | 4.00 % |
April 2020 | 3.75 % |
May 2020 | 3.35 % |
May 2022 | 3.75 % |
FAQs
Ques. What is meant by Repo Rate?
The Repo Rate is the rate at which a nation’s central bank gives money to commercial banks in the time of a cash shortage. Monetary authorities use the Repo Rate to limit inflation.
Ques.What is current Repo Rate?
In May 2022, the Reserve Bank of India changed the Repo Rate to 4.40% after a long time, increasing it by 40 basis points. Since May 2020, the RBI’s Repo rate has remained the same at a rate of 4%. This is the interest rate at which the Reserve Bank of India provides short-term money to Indian banks.
Ques. What is current Reverse Repo Rate?
Ans. The Reverse Repo Rate in India currently stands at 3.75% which has been announced currently the Governor of RBI, Shaktikanta Das. From almost 2 years, the Reverse Repo Rate stood at 3.35%. Indian Reverse Repo Rate is the fixed interest rate, at which the Reserve Bank of India absorbs liquidity from banks.
Ques. What is Repo rate and Reverse Repo rate?
Ans. The Repo rate is the rate at which commercial banks borrow money from the country’s Central bank by selling their assets, whereas the Reverse Repo rate is the rate at which the Country’s central bank borrows money from commercial banks.
Ques. What is meant by Bank Rate?
Ans. A bank rate is the interest rate charged by a country’s central bank to domestic banks when they borrow money. The interest rates charged by central banks are designed to keep the economy stable. The bank rate, commonly known as the discount rate, is set by the Board of Governors of the Federal Reserve System in the United States. In India it is set by the Governor of the Reserve Bank of India.
World Hand Hygiene Day 2022
World Hand Hygiene Day (WHHD) is annually observed across the globe on the 5th of May to maintain global promotion, visibility, and sustainability of hand hygiene in health care. This year, WHO is marking the day with the theme – Unite for safety: clean your hands, with a focus on encouraging people to clean their hands at the right times with the right products that will help lead to high quality safer care everywhere.
History of the day:
WHO launched the “Save Lives: Clean Your Hands” global annual campaign in 2009, which is celebrated as World Hand Hygiene Day on 5th May to further the goal of maintaining a global profile on the importance of hand hygiene in health care.
Tokyo Olympian discus thrower Kamalpreet Kaur provisionally suspended
Olympian discus thrower Kamalpreet Kaur has been provisionally suspended by Athletics Integrity Unit (AIU) for testing positive for a banned substance. Kamalpreet, who was tested on March 29, was suspended for the presence/use of the prohibited substance stanozolol in her sample, a breach of the World Athletics anti-doping rules. Kaur had made it to the Tokyo Olympics final, finishing sixth with a throw of 63.7m.
A provisional suspension is when an athlete or other person is suspended temporarily from participating in any competition or activity in athletics prior to a final decision at a hearing conducted under the World Athletics Anti-Doping Rules or the Integrity Code of Conduct. Last year, Kamalpreet became the first Indian to breach the 65m-mark in the discus throw. She has a national record against her name which she created with a throw of 66.59m at the Indian Grand Prix.
24th Deaflympics: Dhanush Srikanth won gold in men’s 10m air rifle
Shooter Dhanush Srikanth has won gold and Shourya Saini has won the bronze in the men’s 10m air rifle competition in the 24th Deaflympics at Caxias do Sul, Brazil. Later, the Indian badminton team also won gold after beating Japan by 3-1 in the final to make it a double celebration for the country. Ukraine is leading the chart with 19 gold, six silver and 13 bronze medals. With two gold and one bronze medal, India has placed eighth on the medals table.
India to be ‘Country of Honour’ at Cannes Marche’ Du Film in France
Union Minister for Information and Broadcasting, Anurag Thakur has announced that India will be the official Country of Honour at the upcoming Marche’ Du Film, organized alongside the 75th edition of the Cannes Film Festival, in France. The Country of Honour Status thereby ensured India’s presence as Focus Country at the Opening Night of Marche Du Films being organized at the Majestic Beach with a spotlight on India, its cinema, its culture & heritage.
Key Points:
- India is also a “Country of Honour at the Cannes Next, under which 5 new Start-Ups would be given an opportunity to pitch to the Audio-Visual Industry. Ten professionals will participate in the Animation Day networking.
- In another highlight of India’s participation at this edition of the Cannes Film Festival is the World Premiere of the Movie “Rocketry” produced by Shri. R. Madhavan. The movie would be showcased at the Palais des Festivals of the market screening on the 19th of May 2022.
India has been given an opportunity to pitch 5 selected movies at the “Goes to Cannes Section”. These movies are part of the Work In Progress lab under the Film Bazaar :
- Baghjan by Jaicheng Zxai Dohutia – Assamese, Moran
- Bailadila by Shailendra Sahu – Hindi, Chhattisgarhi
- Ek Jagah Apni (A Space of Our Own) by Ektara Collective – Hindi
- Follower by Harshad Nalawade – Marathi, Kannada, Hindi
IBM Chairman Arvind Krishna elected to the Board of Federal Reserve Bank of New York
IBM Chairman and Chief Executive Officer, Arvind Krishna has been elected to the Board of Directors of the Federal Reserve Bank of New York. He will fill the vacancy in the office for the remaining portion of a three-year term ending December 31, 2023.
About the Arvind Krishna:
- Krishna, who has an undergraduate degree from IIT-Kanpur and a PhD from the University of Illinois at Urbana-Champaign, has been elected as a Class B director, “representing the public with due but not exclusive consideration to the interests of agriculture, commerce, industry, services, labour, and consumers.
- Prior to his stint as the IBM CEO, the 60-year-old Krishna was Senior Vice President of Cloud and Cognitive Software. He also headed IBM Research. He was the general manager of IBM Systems and Technology Group’s development and manufacturing organisation.
Important takeaways for all competitive exams:
- Federal Reserve Bank of New York Established: 1913;
- Federal Reserve Bank of New York President & CEO: John C. Williams;
- Federal Reserve Bank of New York Headquarters: New York, USA.
Hyderabad hosts India’s first-ever unique kind of Flow Chemistry Technology Hub
At Dr. Reddy’s Institute of Life Sciences (DRILS), a multi-industry-supported Flow Chemistry Technology Hub (FCT Hub) has been launched . While inaugurating the hub, Jayesh Ranjan, Principal Secretary of the Industries and Commerce (I&C) and Information Technology (IT), said that this is the first of its kind in our country and an enabler for the pharma business in India.
KEY POINTS:
- This hub would usher in a paradigm shift in the pharmaceutical sector, including current methodologies from R&D through manufacturing and migrating to more environmentally friendly and sustainable procedures.
- This hub is a groundbreaking endeavour by the Telangana government, in collaboration with Dr. Reddy’s Laboratories and Laurus Labs, to incorporate and promote efficient and sustainable technology in the pharmaceutical industry.
- The FCT Hub houses a variety of state-of-the-art flow chemistry equipment to provide hands-on training and promote scientific capability building, ensuring greater inclusion of flow chemistry techniques throughout pharma R&D and greater adoption of constant synthesis for active pharma ingredients (APIs) manufacturing.
- Last year, the state administration took the lead in bringing together numerous collaborators to help the state implement the latest flow chemistry technologies.
This inauguration will help the API and intermediate industry take concrete steps toward developing local abilities in green manufacturing processes.
Important Articles In Constitution of India 2022
Constitution of India: Important Articles
The constitution of India begins with a short statement of its basic values. It contains the philosophy on which our constitution has been built. It provides a standard two exam and evaluates any law and action of the government to find out whether it is good or bad, it can be said that preamble is the soul of the Indian constitution. India is the largest democracy in the world and the constitution of India came into effect on 26 January 1950. A constitution is a set of rules and regulations through which a country is governed. In the Indian constitution, there are 448 articles, 25 parts, 12 schedules, and 104 amendments. The parts of the constitution have various articles which discuss the sections of constitutional bodies’ fundamental rights legislatures executive branches and schedules.
Parts and articles of the constitution of India
Parts of the constitution articles | Articles and Definition | Subjects of the parts |
Part I |
|
Union Territories |
Part II |
|
Citizenship |
Part III |
a – Freedom of speech and expression. b – Freedom to assemble peaceably and without arms. c – Freedom to form associations or unions. d – Freedom to move freely throughout the territory of India. e – Freedom to reside and settle in any part of the territory of India. f – Omitted g – Freedom to practice any profession, or to carry on any occupation, trade, or business.
|
Fundamental rights |
Part IV |
|
Directive Principles |
Part IV A | It shall be the duty of every citizen of India
(a) to abide by the Constitution and respect its ideals and institutions, the National Flag and the National Anthem; (b) to cherish and follow the noble ideals which inspired our national struggle for freedom; (c) to uphold and protect the sovereignty, unity, and integrity of India; (d) to defend the country and render national service when called upon to do so; (e) to promote harmony and the spirit of common brotherhood amongst all the people of India transcending religious, linguistic, and regional or sectional diversities; to renounce practices derogatory to the dignity of women; (f) to value and preserve the rich heritage of our composite culture; (g) to protect and improve the natural environment including forests, lakes, rivers, and wildlife, and to have compassion for living creatures; (h) to develop the scientific temper, humanism, and the spirit of inquiry and reform; (i) to safeguard public property and to abjure violence; (j) to strive towards excellence in all spheres of individual and collective activity so that the nation constantly rises to higher levels of endeavor and achievement |
Fundamental Duties |
Part V |
|
union |
Part VI |
|
States |
Part VII | 7th Amendment Act | – |
Part VIII |
|
Union Territories |
Part IX |
|
Panchayats |
Part IX-A |
|
Municipalities |
Part IX B |
|
Co-operative Societies |
Part X |
|
Scheduled Tribe areas |
Part XI |
|
Relation of Union and states |
Part XII |
|
Properties, finance, suits, and contracts |
Part XIII |
|
Trade, commerce, and communication between the territories of India |
Part XIV |
· Article 315 – Public service commissions for the union and the states
|
Services under the union and states |
Part XIV A |
|
Tribunals |
Part XV |
|
Elections |
Part XVI |
|
Special provisions for certain classes |
Part XVII |
|
Languages |
Part XVIII |
|
Emergency Provisions |
Part IX |
|
Miscellaneous |
Part XX |
|
Amendment of constitution |
Part XXI |
|
Temporary and special provision |
Part XXII |
|
Commencement, Authoritative text in Hindi |
FAQs related to the constitution of India
1. What are the parts of the Indian constitution?
Ans. 25 parts of the Indian constitution have various articles under them and it discusses fundamental rights, directive principles, States, unions, elections, and miscellaneous subjects.
2. Under which article of the constitution of India the fundamental rights are mentioned?
Ans. The fundamental rights are mentioned in article 12 and article 35 in the Indian constitution.
3. What is article one of the Indian constitution?
Ans. Article one of the constitution of India state that the territories of India shall consist of the state territories union territories and any territory that is required in the future
Canara Bank tied-up with ASAP to launch skill loans
Canara Bank has launched ‘skill loans’ in association with the Additional Skill Acquisition Programme (ASAP), Kerala, the government company under the Higher Education Department. Under this facility, the loan is ranging from Rs 5,000 to Rs 1.5 lakh. This loan can be availed of by students who are pursuing skill training programmes which are offered by ASAP Kerala or any other Central or State government-recognised agencies.
Collateral free loans will be provided to students and have a repayment period of three to seven years. Students can also avail themselves of a moratorium on repayment for the duration of the course and for an additional 6 months.
Important takeaways for all competitive exams:
- Canara Bank Establishment: 1 July 1906;
- Canara Bank Headquarters: Bangalore, Karnataka;
- Canara Bank CEO & MD: Lingam Venkat Prabhakar;
- Canara Bank Tagline: Together we can.
Odisha to host India’s first tribal health observatory
Odisha is planning to create India’s only observatory, which will house data on the state’s indigenous population’s health. The ST and SC Development Department and the RMRC, a regional institution of the Indian Council of Medical Research, signed a memorandum of understanding (MoU) in this regard.
KEY POINTS:
- The Tribal Health Observatory (TriHOb) is the “first in the nation,” according to the Information Department, and is aimed to be an effective, evidence-based, and policy-oriented centre.
- It will monitor illness burden, health-seeking behaviour, and the healthcare delivery system in relation to tribal health in the state in a systematic and continuing manner.
- ‘Mo School’ Abhiyan chairman Sushmita Bagchi also inaugurated a tribal family health survey among indigenous groups during the event in which the MoU was signed.
- The survey will serve as a springboard for future longitudinal cohort studies and policy research.
- The ‘Mo School’ (My School) programme aims to connect, collaborate, and contribute to the renovation of government and government-aided schools in Odisha.
Important Takeaways for All Competitive Exams:
- Minister of State for Health and Family Welfare: Dr. Bharati Pravin Pawar
- Minister of Social Justice and Empowerment: Shri Virendra Kumar
- Mo School’ Abhiyan chairman: Smt. Sushmita Bagchi
Maharashtra’s ‘Jivhala’ scheme to offer credit to jail inmates
A loan scheme named Jivhala has been launched by the Maharashtra Department of Prisons for the inmates who are serving sentences in various jails across Maharashtra. The scheme, implemented by the Department of Prisons and Maharashtra State Cooperative Bank, has been started in Pune’s Yerawada Central Jail. Bank and prison officials believe the credit scheme could be the first of its kind in India for inmates who are still serving their sentences.
The credit scheme, named Jivhala, which means affection in Marathi, is primarily for inmates who are undergoing a prison sentence of more than three years. In the initial phase of this scheme, a Rs 50,000 loan will be given. The interest rate that will be applicable is 7%. Out of the interest that will be earned by the bank, 1 per cent will be contributed by the bank to the prisoners’ welfare fund. For issuing this loan no guarantor or mortgage is required.
RailTel & WHO inaugurated Mobile Container Hospital at Visakhapatnam
The RailTel Corporation of India Ltd had designed and established a “Health Cloud” at Visakhapatnam premises of Andhra Pradesh Med Tech Zone (AMTZ). The Andhra Pradesh Med Tech Zone (AMTZ) is the world’s first integrated medical device manufacturing hub. The “Health Cloud” at AMTZ has been inaugurated by Louise Agersnap, Head of WHO Innovation Hub, WHO-Geneva.
About the Initiative:
- RailTel has provided complete technological support for teleconsultation solutions for the Mobile Container Hospital which has been designed and built-in AMTZ with all the necessary Hospital setup for ready-to-operationalise in remote areas. It can also be operationalised on the wheels. It comes with a Health ATM to dispense the medicines through Mobile App having a digital payment interface.
- All the initiatives under this partnership will facilitate empowering of hospitals in rural areas with hi-tech digital healthcare facilities and thereby making universal health care access a reality.
- RailTel is also providing cloud and connectivity support to the Electronic Medical Record Alliance (EMRA) which is an important consortium formed to provide Hospital Information System (HIS) solution to small entities for building EMR bringing everyone into the fold of the digital health ecosystem.
- The consortium aspires to emerge as a Health Digital Data Fiduciary Services and Health Information Exchange fully complying and seamlessly integrating into the ABDM ecosystem.
About the RailTel:
RailTel is a Miniratna Central Government PSU is prominent telecom & ICT services provider and has emerged as one of the largest Neutral Telecom Infrastructure Services Providers in the country.
Jnanpith Awards 2021-1965 Complete List of Winners
Jnanpith Awards in India
Jnanpith award is the oldest Indian literary award which is annually presented by the Bhartiya Jnanpith to an author who has an outstanding contribution to literature. It is the oldest and the highest literary award in India and this award is only given to Indian authors who write in Indian languages. The Indian languages included in the Jnanpith award are according to the 8 schedules of the constitution of India. The eight schedules to the constitution of India consist of 22 languages, Assamese, Bengali, Bodo, Dogri, Gujarati, Kannada, Hindi, Kashmiri, Konkani, Maithili, Malayalam, Marathi, Manipuri, Nepali, Odia, Punjabi, Santali, Sindhi, Sanskrit, Tamil, Telugu, and Urdu.
List of Award winners from 1965-2021
Year | Winners | language |
2021 | Damodar Mauzo | Konkani |
2020 | Nilamani Phookan | Assamese |
2019 | Akkitham Achuthan Namboothiri | Malayalam |
2018 | Amitav Ghosh | English |
2017 | Krishna Sobti | Hindi |
2016 | Shanka Ghosh | Bengali |
2015 | Dr. Raghuvir Chaudhari | Gujarati |
2014 | Bhalchandra Nemade | Marathi |
2013 | Kedarnath Singh | Hindi |
2012 | Ravauri Bharadwaj | Telugu |
2011 | Pratibha Ray | Odia |
2010 | Chandrashekhar Kambara | Kannada |
2009 | Shrilal Shukla Amar Kant | Hindi |
2008 | Akhlaq Mohammed Khan | Urdu |
2007 | Dr. O.N.V Kurup | Malayalam |
2006 | Satya Vrat Shastri | Sanskrit |
2006 | Ravindra Kelekar | Konkani |
2005 | Kunwar Narayan | Hindi |
2004 | Rehman Rahi | Kashmiri |
2003 | Vinda Karandikar | Marathi |
2002 | D. Jayakanthan | Tamil |
2001 | Rajendra Keshavial Shah | Gujarati |
2000 | Indira Goswami | Assamese |
1999 | Nirmal Verma | Hindi |
1999 | Gurdial Singh | Punjabi |
1999 | Nirmal Verma | Hindi |
1998 | Girish Karnad | Kannada |
1997 | Ali Sardar Jafri | Urdu |
1996 | Mahasweta Devi | Bengali |
1995 | Dr. M. T. Vasudevan Nair | Malayalam |
1994 | U. R. Ananthamurthy | Kannada |
1993 | Sitakant Mahapatra | Oriya |
1992 | Naresh Mehta | Hindi |
1991 | Subhas Mukhopadhyay | Bengali |
1990 | Vinayaka Krishna Gokak | Kannada |
1989 | Qurratulain Hyder | Urdu |
1988 | Dr. C. Narayana Reddy | Telugu |
1987 | Vishnu Vaman Shirwadkar | Marathi |
1986 | Sachidananda Routray | Oriya |
1985 | Pannalal Patel | Gujarati |
1984 | Thakazhi Sivasankara Pillai | Malayalam |
1983 | Masti Venkatesh Iyengar | Kannada |
1982 | Mahadevi Varma | Hindi |
1981 | Amrita Pritam | Punjabi |
1980 | S. K. Pottekkatt | Malayalam |
1979 | Birendra Kumar Bhattacharya | Assamese |
1978 | Sachchidananda Hirananda Vatsyayan ‘Ajneya’ | Hindi |
1977 | K. Shivaram Karanth | Kannada |
1976 | Ashapurna Devi | Bengali |
1975 | P. V. Akilan | Tamil |
1974 | Vishnu Sakharam Khandekar | Marathi |
1973 | Gopinath Mohanty | Oriya |
1973 | Dattatreya Ramachandra Bendre | Kannada |
1972 | Ramdhari Singh Dinkar | Hindi |
1971 | Bishnu Dey | Bengali |
1970 | Viswanatha Satyanarayana | Telugu |
1969 | Firaq Gorakhpuri | Urdu |
1968 | Sumitranandan Pant | Hindi |
1967 | Umashankar Joshi | Gujarati |
1967 | Kuppali Venkatappagowda Puttappa | Kannada |
1966 | Tarashankar Bandyopadhyay | Bengali |
1965 | G. Sankara Kurup | Malayalam |
Important Facts about Jnanpith Awards
The first Jnanpith award winner was G. Shankara Kurup, in 1965. He was a well-known Indian poet literary critic of Malayalam literature and essayist, he is also known as “The Great Poet G”. The first English writer who won the Jnanpith award is Amitav Ghosh in 2018. The first woman to win the Jnanpith award is Ashapurna Devi 1976, who was a Bengali writer. The most recent Jnanpith award winners in 2021 and 2020 were Assamese poet Nilmani Phookan Jr. and Damodar Mauzo who is a Konkani novelist.
BCCI bans journalist Boria Majumdar for 2 years in Wriddhiman Saha case
The Board of Control for Cricket in India (BCCI) has banned journalist Boria Majumdar for two years after an internal inquiry found him guilty of an attempt to “threaten and intimidate” wicketkeeper Wriddhiman Saha. The BCCI apex council, during its meeting last week, considered the report of a three-member committee and decided to ban Majumdar from being involved in any cricket or interviewing cricketers for two years.
The BCCI Committee considered the submissions by both Mr Saha and Mr Majumdar and concluded that the actions by Mr Majumdar were indeed in the nature of threat and intimidation. The BCCI Committee recommended the following sanctions to the Apex Council of BCCI.
The Apex Council of BCCI agreed with the recommendations of the BCCI Committee and imposed the following sanctions:
i. 2 (two) year ban on getting any accreditation as a member of the press in any of the cricket matches (domestic and international) in India;
ii. 2 (two) year ban on getting any interview with any registered players in India; and
iii. 2 (two) year ban on access to any of BCCI and members associations owned cricket facilities.”
InterGlobe Aviation appointed Venkataramani Sumantran as chairman, Board of Directors
InterGlobe Aviation announced that Venkataramani Sumantran hasAppointments been named chairperson of the IndiGo board. Sumantran is a corporate leader, technocrat, and academician with a 37-year career spanning the United States, Europe, and Asia. Sumantran is the managing director and chairperson of Celeris Technologies, a strategic advising firm. At IndiGo, he will succeed Meleveetil Damodaran.
Key Points:
- Sumantran’s understanding of international markets will benefit the airline.
- Sumantran has served on the Prime Minister of India’s Science Advisory Council and the Indian Cabinet’s Scientific Advisory Committee.
- He was the Executive Vice-Chairman of Hinduja Automotive (UK) and Vice Chairman of Ashok Leyland Limited till 2014.
- According to the figures, IndiGo, India’s largest airline, carried 58.61 lakh passengers in March, accounting for 54.8 percent of the domestic market.
Indo-German Green Hydrogen Task Force established after India and Germany inked a joint declaration of intent
Union Minister for Power, New and Renewable Energy, R.K Singh and German Minister for Economic Affairs and Climate Change Dr Robert Habeck virtually signed a Joint Declaration of Intent on an Indo-German Hydrogen Task Force. India has emerged as a global leader in the energy transition, with the world’s highest pace of expansion in renewable energy capacity. Minister R.K. Singh informed his German counterpart that India has a clear bidding procedure, an open market, a quick dispute resolution system, and is widely recognised as one of the most attractive RE investment destinations.
Key Points:
- India has lofty goals in terms of the energy transition. By 2030, it will have added 500 GW of non-fossil fuel capacity.
- India has submitted proposals for green hydrogen.
- German companies compete for the development of this ecosystem in India.
- Both countries will establish an Indo-German Green Hydrogen Task Force under the agreement signed today to strengthen mutual cooperation in the production, utilisation, storage, and distribution of green hydrogen by creating enabling frameworks for projects, regulations and standards, trade, and joint research and development (R&D) projects.
- The National Green Hydrogen Mission was created in India with the purpose of making it the global hub for green hydrogen production and export. Germany has also devised a bold National Hydrogen Strategy with the goal of becoming a global leader in hydrogen technology.
- India can create low-cost Green Hydrogen to gradually decarbonize a range of industry sectors, as well as export it to fulfil global demand, thanks to its rich renewable energy potential and experience implementing renewable energy projects. Germany is already undertaking various hydrogen initiatives thanks to its capabilities in research and industry.
- The collaboration would be built around the trade of green hydrogen and/or its derivatives like green ammonia and green methanol. Institutional collaboration in collaborative research, lighthouse projects, innovation clusters, and hydrogen hubs would help to catalyse the two countries’ synergistic efforts.
- The aggressive deployment goals would also attract investment and economic prospects for both countries’ industries.
Both countries are working to establish a national hydrogen economy. The long-term objective is to reduce emissions while protecting the ecosystem. This necessitates a global increase in green hydrogen production and consumption. As a result, India and Germany support the construction of a global green hydrogen economy to help meet the Paris Agreement’s goals. Both parties are confident that achieving common goals requires close cooperation that builds on individual strengths and capacities.
Launch of the UN Energy Action Plan for 2025
With the launch of a UN-Energy Plan of Action Towards 2025, the UN took a major step towards catalyzing the large-scale action and support needed for the transition to clean, affordable energy for all and net-zero emissions against the backdrop of a global energy crisis and worsening climate emergency.
KEY POINTS:
- Around 30 important organisations, including UN-Energy, launched the ‘Plan of Action.’
- According to the UN, an Energy Compact Action Network has been established to connect nations seeking support for their clean energy ambitions with governments and corporations that have pledged more than $600 billion to support these commitments.
- Coalitions supporting energy access and transition in Nigeria, Santiago, and Chile were announced, demonstrating the Network’s potential, as well as coalitions supporting green hydrogen and a better role for women in leading and benefiting from the energy transition.
- Liu Zhenmin, UN Under-Secretary-General for Economic and Social Affairs and Secretary-General of the 2021 High-Level Dialogue on Energy said that the Global Roadmap that emerged from the High-level Dialogue calls for strengthened efforts by the UN system, supported by UN-Energy, including the creation of a global multi-stakeholder Energy Compact Action Network,
- Achim Steiner, Administrator of the UN Development Programme (UNDP) and co-chair of UN-Energy, said that the UN-Energy Plan of Action is our collective response to today’s global energy and climate challenges, noting that the commitments made at the 2021 High-Level Dialogue on Energy and COP26 must be translated into actions on the ground.
As part of this, UNDP is scaling up its energy work to help countries achieve a just energy transition, allowing them to make progress toward the Sustainable Development Goals while also addressing the climate problem.
Important Takeaways For All Competitive Exams:
- UN Under-Secretary-General for Economic and Social Affairs and Secretary-General of the 2021 High-Level Dialogue on Energy: Liu Zhenmin
- Administrator of the UN Development Programme (UNDP) and co-chair of UN-Energy: Achim Steiner
World Food Prize 2022 received by NASA’s Cynthia Rosenzweig
A senior research scientist and head of the Climate Impacts Group at NASA’s Goddard Institute for Space Studies (GISS) in New York City, Cynthia Rosenzweig has received the 2022 World Food Prize from the World Food Prize Foundation. Rosenzweig was selected for the award for her research to understand the relationship between climate and food systems and forecast how both will change in the future.
Her modelling work has provided a foundation for decision-makers around the world to create strategies to mitigate climate change and adapt our food systems to a changing planet, which has helped communities worldwide address the consequences of Earth’s changing climate.
About the Cynthia Rosenzweig
- Rosenzweig has been a research scientist at NASA GISS and head of the Climate Impacts Group since 1994. Her research focuses on improving models and assessments of how climate change will affect agriculture and the food supply in the future.
- She uses data from NASA satellites and models to study agricultural regions around the world and how they are changing.
- Rosenzweig has previously served as coordinating lead author for the Intergovernmental Panel on Climate Change (IPCC) Working Group II Fourth Assessment Report in 2007 and the IPCC Special Report on Climate Change and Land in 2019.
About the World Food Prize:
According to the World Food Prize Foundation, the World Food Prize is a prestigious international award conceived as the “Nobel Prize for Food and Agriculture” with a mission to elevate innovations and inspire action to sustainably increase the quality, quantity and availability of food for all.
Reward(s): A diploma, a commemorative sculpture and a monetary award of US$ 250,000.
ISRO plans mission to Venus by Dec 2024
The Indian Space Research Organisation will send a spacecraft to orbit Venus to study what lies below its surface, the space body’s Chairperson S Somnath announced. ISRO is expecting to launch the mission by December 2024 with an orbital manoeuvre planned for a year after that. The orbital manoeuvre is the use of propulsion systems to change the orbit of a spacecraft. It enables a spacecraft to enter a planet’s orbit.
In 2025, the Earth and Venus would be aligned in a manner that it would require a minimum amount of propellant for the spacecraft to enter the orbit of the hottest planet in the Solar System. A similar window to conduct the mission would next be available in 2031.
What is the aim of the Mission?
The aim of the mission is to study Venus’ atmosphere, which is toxic and corrosive in nature as clouds of sulfuric acid cover the planet. Several countries, including the United States, are also planning to send missions to Venus to try and understand how it became an inferno. Experts have suggested that Venus was once like Earth.
Important takeaways for all competitive exams:
- ISRO Founded: 15 August 1969;
- ISRO Headquarters: Bengaluru;
- ISRO Chairman: S Somanath.
Last Surviving F1 Race Winner From 1950s Tony Brooks Passes Away
Tony Brooks, a British racing driver who won six Formula One Grand Prix in the 1950s and was nicknamed the “Racing Dentist”, has passed away. He was born in the United Kingdom in 1932. Tony retired from the sport at the age of just 29 after driving for four teams – BRM, Vanwall, Ferrari, and Cooper.
Brooks was the most successful driver of his era after Juan Manuel Fangio, Alberto Ascari, and Moss. His most famous victory was perhaps at the 1957 British Grand Prix at Aintree, a home win he shared with his compatriot Moss.
Brooks made his debut for BRM at the 1956 British Grand Prix before going on to drive for Vanwall in 1957 and 1958. The year after he was picked by Enzo Ferrari, the season he also came agonizingly close to winning the world title, only to lose it by four points to Jack Brabham.
RPF launches Focused effort under “Operation Satark” from 5th April to 30th April
Railway Protection Force (RPF) has recently started “Operation Satark”. Focused effort under “Operation Satark” was launched from 5th April to 30th April 2022 wherein 26 cases of transportation of illegal tobacco products were detected with seizure of tobacco products worth more than Rs 44 Lakhs and arrest of 14 persons involved.
Being aware of its responsibility as the first responder in cases of smuggling through rail, RPF took concerted action in such cases and seized smuggled items worth about Rs. 3.18 Crores during the period mentioned above. For taking action against illicit liquor, fake currency circulation, illegal tobacco products, unaccounted gold or cash orprecious items, and any other items being transported through railway network for the purpose of tax evasion or smuggling or commission of crime or acts of terror.
Important takeaways for all competitive exams:
- Railway Protection Force Founded: 27 July 1872;
- Railway Protection Force Headquarters: New Delhi, India;
- Railway Protection Force Director-General: Sanjay Chandar.
Telangana govt extends insurance coverage under ‘Nethanna Bima’ scheme
Telangana State Government has announced the extension of insurance coverage to handloom and power loom weavers under the ‘Nethanna Bima’ (Weaver’s Insurance) Scheme. The State Government has issued orders to extend insurance coverage of 5 lakh rupees for weavers under the Insurance Scheme on par with farmers’ insurance schemes.
Under the Scheme:
- Over 29 crore rupees have been sanctioned for implementing the scheme during the current year. The Cabinet Sub Committee had proposed to cover over 55 thousand handloom and power loom and ancillary weavers in the State.
- The insurance coverage will be extended to weavers in the age group of 18 to 59 years. The insurance benefits would be extended to the family of the death of the weaver or ancillary worker. The scheme is likely to be launched next month.
- The department has been directed to prepare draft guidelines and submit to the government for implementation of the scheme, said a senior official from the Handlooms department.
Char Dham Yatra of Uttarakhand 2022
Char Dham Yatra
Char Dham is a pilgrimage site in India, the four Dhams are Badrinath, Kedarnath, Yamunotri, and Gangotri It is a well-known belief in Hindus that every Hindu should visit the char dhams once in his lifetime. All the dhams are related to four different epochs of the universe, Satyug, Tretayug, Dwaperyug, and Kalyug. Char Dham Yatra is like a ritual every citizen must complete in his or her lifetime. It is believed that char Dham yatra will bring you peace and will make your soul pure. It will take away all the evil out of your mind and body. People between the age of 50s-60s are most likely to go for Char Dham Yatra.
Char Dhams of India
Badrinath Dham
Badrinath Dham is located in the Badrinath district of Uttarakhand, it is one of the four sides of the Chardham pilgrimage. The town Badrinath gets its name from the Badrinath temple. The Badrinath temple is the main attraction of the town. According to history, Sankara discovered a black stone image of Lord Badrinarayan which was made of Shaligram stone in the Alaknanda river. He took the stone and shine it in the caves near the Tapt Kund.
The king of Garhwal in the 16th century moved the Murti to the present temple of Badrinath. The architecture of the temple resembles a Buddhist temple and inside the mandapa, a large pillar hall leads to the Garbha Graha or the mean area of the shrine. There are a lot of stories related to Badrinath and one of the stories which describe the name of this place is, that the place was full of Badri bushes and Lord Vishnu used to meditate, and his below Lakshmi stood next to him and sheltered him from the scorching sunlight and turned herself into a Badri herself called Badri Vishal. Hence she was Badri and her lord or nath became the place of Badrinath. According to Jainism, numerous Jain Muni got moksha by doing Tapasya in the Himalayan ranges and hence this place is considered Holi in Jainism.
Kedarnath Dham
Kedarnath Dham is located in the Rudraprayag district of Uttarakhand. Kedarnath is famous for the Kedarnath temple which is approximately 86 km from Rudraprayag. Kedarnath is the remotest of all the four pilgrimage sites or the char dhams of India. It is located in the Himalayas near the Chorabadi glacier which is the source of the Mandakini river. Since ancient times Kedarnath has been a pilgrimage centre.
The temple was constructed by the Pandavas which is mentioned in Mahabharat. It can also be noted that Mahabharat does not mention any place called Kedarnath only one of the earliest references together does not occur in the Skanda Purana, which says that kedara is the place where Lord Shiva releases the holy water of Ganga from his matted hair resulting in the formation of Ganga river. Kedarnath is located 223 km away from Rishikesh in Uttarakhand. The place of interest in Kedarnath is a temple known as Bhairavnath temple where the deity Bhairavnath is believed to protect the town.
Gangotri Dham
Gangotri Dham is located in the Uttarakashi district of Uttarakhand. It is a Hindu pilgrimage town on the banks of Bhagirathi, the origin of the river Ganga. The town is located in the greater Himalayan range and according to the popular Hindu mythologies, the goddess Ganga descended here when Lord Shiva released the river from his hair locks. Gangotri is one of the four sides of char Dham in India. The river flowing through Gangotri is Bhagirathi which originated from Gomukh in the Gangotri glacier. The original Gangotri Temple was built by General Amar Singh Thapa from Nepal.
Yamunotri Dham
Yamunotri Dham is located in the north of Uttarkashi district in Uttarakhand. It is one of the four sides in Char Dham. Yamunotri is the source of the river Yamuna in the western part of the Garhwal Himalayas. The main attraction of Yamunotri is the temple devoted to the goddess Yamuna. The temple of Yamuna was constructed by Maharaja Pratap Shah of Tehri Garhwal, however, there is the confusion that the original temple was built by Maharani Guleria of Jaipur in the 19th century. The diety Yamuna is made of black marble. On the occasion of Akshaya Tritiya, the temple and the place are open for the devotees.
World Food Prize 2022- All You Need to Know
World food prize 2022
World food price is an international award given to the individuals who have contributed to human development by improving the quantity availability and quality of food in the world. In the field of food and agriculture, the world food prize is the highest honor. It was established in the year 1986 by Norman Borlaug with the support of general foods and from 1987 the price has been awarded and given to the deserving individuals. Norman Borlaug was awarded the Nobel peace prize in 1970
or his contribution to the extensive increase of global food production. The first chairperson of the world food prize laureate was Norman Borlaug. The first world food prize was given to M.S. Swaminathan for his contribution to the introduction of high-yield wheat and rice varieties in India and for starting India’s green revolution in 1987. In 2009 Norman Borlaug appointed MS Swaminathan as the laureate after him.
This year in 2022 Cynthia Rosenzweig is facilitated for her pioneering work in modeling the impact of climate change on food production worldwide. The world food foundation invited nominations for the annual world food price. The prize money was 250000 US dollars for the individual who has made outstanding achievements to improve the world’s food production and distribution. The field of achievement includes land and soil, plant-animal science, food science, technology rural development water and environment, and many other categories. The world food prize 2022 was hosted by the United States Department on 5th May 2022 at 9:30 AM EDT.
World Food Prize 2022: Cynthia Rosenzweig
Cynthia Rosenzweig is an agronomist and climatologist who was awarded 250000 as prize money for her contribution to the innovation of modeling the impact of climate change on food production. She works as a senior research scientist at NASA Goddard Institute for space studies. With her innovation, she wants to achieve the motive to improve the food and agriculture system and lessen the effect of climate on food production. According to Cynthia Rosenzweig, the greenhouse gas emissions from the food system are the major topic of concern, she said we cannot provide food security worldwide unless we reduce the greenhouse gas emissions. The undersecretary of state for economic growth energy and environment said that more than 160 million people worldwide have experienced food insecurity since last year. And there is a significant increase in food insecurity and the major cause of decreasing food security is global warming.
Without the help of Dr. Cynthia Rosenzweig, the people couldn’t understand the climatic changes affecting food security. Cynthia Rosenzweig has been recognized as the founder of the agriculture model intercomparison and improvement project. This organization collects scientists from all over the world with different disciplines who can develop advanced methods for improving the future performance of agriculture and food systems with the changing global climate.
In her work, she studied how farmers deal with climate change and how agriculture is the problem. The studies were published last month which said that nearly 1/3 of the total greenhouse gases are emitted by human activities. Her main concern is people collectively should reduce the use of such emissions to decrease the effects of changing climate. Cynthia developed protocols to understand and improve the model performance by comparing multiple models brought together under AgMIP. The modeling groups brought the crop models to AgMIP which helped Cynthia to work on them.
The different models which came from rural and tropical areas helped her to understand the risk of extreme weather climate change and other descriptions of agriculture production. She was determined to find the solution to this problem and she included stakeholders, policymakers, and the on-ground practitioners to address the challenges of climate change on agriculture, she made detailed data and practiced it with her team. She wanted to break the stereotype of the scientist who brings out the result and passive the society to implement it. She wanted to give the solution as well as try to improve the situation.
About Cynthia Rosenzweig
Cynthia Rosenzweig was born in Scarsdale, New York. She describes herself as a climate impact scientist and when she moved to Tuscany, Italy she developed a passion for agriculture. When she returned to the United States she focused on agronomy as her main subject. She works as a graduate student at the Goddard Institute for space studies in 1980. She was the only team member who was studying agronomy and she researched the impact on food production. During her graduation period, the global climate models were being to show the effects of human-generated carbon dioxide on the global climate. She completed her first projections of how climate change will affect food production in North America in 1985 and the projection was completed globally in 1994. She was one of the first scientists to document the effect of climate change on food production and cultivation.