Current Affairs - 31 Mar 2022

Daily Current Affairs of 31 Mar 2022. Follow Current Affairs on daily Basis in on post. Current Affairs PDF for Competitive Exams

Virat Kohli tops in Duff & Phelps Celebrity Brand Valuation Report 2021

According to the Celebrity Brand Valuation Report 2021 (7th Edition) titled “Digital Acceleration 2.0.” released by Duff & Phelps (Now Kroll), Indian Cricketer Virat Kohli was ranked as the most valued celebrity for the 5th consecutive time in 2021. The brand value of Virat Kohli has dropped from USD 237.7 million in 2020 to USD 185.7 million in 2021.

Alia Bhatt has ranked 4th with a brand value of USD 68.1 million and has become the most valued female celebrity. She is the youngest celebrity among the top 10 and she is the most valued brand amongst female Bollywood actors.

Here is the list of the Top 10 most valued celebrities:

Rank	Name	Brand Value (In Millions)
1	Virat Kohli	USD 185.7
2	Ranveer Singh	USD 158.3
3	Akshay Kumar	USD 139.6
4	Alia Bhatt	USD 68.1
5	MS Dhoni	USD 61.2
6	Amitabh Bachchan	USD 54.2
7	Deepika Padukone	USD 51.6
8	Salman Khan	USD 51.6
9	Ayushmann Khurrana	USD 49.3
10	Hrithik Roshan	USD 48.5

World Backup Day 2022 observed on 31 March

World Backup Day is marked every year on March 31. The day reminds us to protect our precious digital documents as we’ve become more reliant on technology. It is a day for people to learn about the increasing role of data in our lives and the importance of regular backups. Originally, World Backup Day began as World Backup Month, by a hard drive company named Maxtor which was later acquired by Seagate Technology.

Aim of the day:

The aim of the day is simple, to raise awareness of how to safely backup data to introduce people to the 3-2-1 strategy. This strategy leads the backup campaign and is a solid tried and tested approach that’s easy for anyone to adapt.
3-2-1 backup is all about having three copies of your data, one on your computer, one on an external storage device and another offsite on a cloud storage solution.
The great thing about the 3-2-1 backup strategy is that you can adapt it to suit your budget. So if you’re just starting out then your hard drive a cheap external drive and a standard cloud solution can be found relatively inexpensively.

Belgian Footballer Miguel Van Damme passes away

Veteran Belgian footballer, Miguel Van Damme has passed away aged 28 after a long battle with leukaemia. Van Damme was diagnosed with leukaemia in 2016 and was undergoing treatment for cancer for over five years. During his eight-year professional career, Van Damme played for Cercle Brugge and made 40 appearances for the team.

International Transgender Day of Visibility 2022

The International Transgender Day of Visibility (TDOV) occurs annually on March 31 to raise awareness of discrimination faced by transgender people worldwide, while also celebrating their contributions to society. The day is dedicated to celebrating transgender people and raising awareness of discrimination faced by transgender people worldwide, as well as celebrating their contributions to society.

History of the Day:

The day was founded by US-based transgender activist Rachel Crandall of Michigan in 2009. As a reaction to the lack of LGBT recognition of transgender people, citing the frustration that the only well-known transgender-centred day was the Transgender Day of Remembrance which mourned the murders of transgender people but did not acknowledge and celebrate living members of the transgender community. The first International Transgender Day of Visibility was held on March 31, 2009. It has since been spearheaded by the U.S.-based youth advocacy organization Trans Student Educational Resources.

IONS Maritime Exercise 2022 (IMEX-22) concludes in Arabian Sea

The first edition of the Indian Ocean Naval Symposium (IONS) Maritime Exercise 2022 (IMEX-22) was held from March 26 to 30, 2022, in Goa and in the Arabian Sea. The objective of the exercise was to enhance the interoperability of the navies of member nations in Humanitarian Assistance and Disaster Relief (HADR) operations. The exercise is seen as a significant stepping stone for regional navies to collaborate and respond collectively to natural disasters in the region and paves way for further strengthening regional cooperation.

About the exercise:

The navies from 15 out of the 25 member nations of IONS, participated in the exercise. The Harbour Phase of IMEX – 22 was held at Marmugao port, Goa on March 26 and 27 while the Sea Phase took place in the Arabian Sea from March 28 to 30, 2022.

What is IONS?

The Indian Ocean Naval Symposium (IONS) is a series of biennial meetings between the littoral states of the Indian Ocean region, to increase maritime security cooperation, discuss regional maritime issues, and promote friendly relationships among the member states. The forum was established in 2007.

Cabinet approved $808 million programme to improve and accelerate the performance of MSME

The government authorised a World Bank-backed programme costing USD808 million on Wednesday to aid and improve the functioning of the country’s Micro, Small and Medium Enterprises (MSMEs).

KEY POINTS:

The government said in an official statement that it would support various COVID-19 pandemic-related resilience and recovery interventions of the enterprises and that it would begin in financing at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi, which envisions a programme called ‘Raising and Accelerating MSME Performance’ (RAMP) and is supported by a World Bank-assisted central sector scheme, the government said.
The loan from the World Bank’s International Bank for Reconstruction and Development will be for USD500 million, with the remaining $308 million coming from the Centre, according to the statement.
The loan from the World Bank’s International Bank for Reconstruction and Development will be for 18.5 years, with a 5.5-year grace period.

In addition, the RAMP initiative will work to increase state implementation capability and MSME coverage. It will address the MSME sector’s generic and COVID-related challenges by enhancing the impact of existing MSME schemes, particularly on the competitiveness front.

Prime Minister Narendra Modi virtually attends 5th BIMSTEC Summit

Prime Minister Narendra Modi has participated in the 5th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Summit through virtual mode. The Summit was hosted by the Government of Sri Lanka, which was the chair nation of BIMSTEC. At the conclusion of the Summit, Thailand took over as chair nation of BIMSTEC. The year 2022 marks the 25th year of the establishment of BIMSTEC.

Theme of the summit:

The theme of the Summit was “Towards a Resilient Region, Prosperous Economies, Healthy People”.

Key points of the Summit

During the Summit, leaders witnessed the signing of three BIMSTEC agreements

BIMSTEC Convention on Mutual Legal Assistance in Criminal Matters
BIMSTEC Memorandum of Understanding on Mutual Cooperation in the field of Diplomatic Training
Memorandum of Association on Establishment of BIMSTEC Technology Transfer Facility

Adoption and signing of the BIMSTEC Charter, which would lead to putting in place s set of rules, a framework and long-term goals. This will help to streamline the operations of BIMSTEC and allow the organisation to enhance its potential.
Adoption of the ‘Master Plan for Transport Connectivity’ which lays out a guidance framework for connectivity-related activities in the region in the future.
Prime Minister of India, Narendra Modi announced that India will provide USD 1 million to the BIMSTEC secretariat to increase its operational budget.

About the BIMSTEC:

BIMSTEC is an international organisation of seven South Asian and Southeast Asian nations. These are Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand. The Leadership is rotated in alphabetical order of country names. The permanent secretariat of BIMSTEC is in Dhaka, Bangladesh.

Banks reported fraud totaling Rs 34,000 crore, according to the Reserve Bank of India

According to Reserve Bank of India data, in the nine months ending December, 96 incidences of fraud were recorded by 27 scheduled commercial banks and financial institutions, totaling Rs 34,097 crore. Punjab National Bank had the greatest amount of frauds at Rs 4,820 crore, while Bank of India had the highest number of frauds at 13.

KEY POINTS:

This penalty was issued in accordance with RBI’s authority under section 47A (1) (c) of the Banking Regulation Act, 1949, as well as sections 46(4)(i) and 51(1).
This action is based on regulatory compliance issues and is not meant to be a judgement on the legitimacy of any transaction or agreement between the bank and its customers.

Background:

Minister of State for Finance Bhagwat Karad responded to a query in the Rajya Sabha during the budget session of parliament by giving bank-by-bank data of frauds totaling more than Rs 100 crore. Between April and December, scheduled commercial banks and select financial institutions reported these.
The RBI’s master guidelines emphasise fraud prevention, early detection, rapid reporting, and prompt start of accountability processes in the case of fraud. In his response, the minister stated that, in addition to the master directives, a number of steps have been implemented to prevent fraudsters and defaulters. That includes:
The Fugitive Economic Offenders Act of 2018 authorises the attachment of a fugitive economic offender’s property. Such possessions may be seized, and the perpetrator may be disentitled, making it impossible for them to defend any legal claim.
Public sector bank heads have been given the authority to seek the issuing of lookout circulars.
Based on RBI directives and board-approved regulations, public sector banks can elect to publish images of willful defaulters.
PSBs can acquire certified copies of the passports of the proprietors or directors, as well as other approved signatories, of enterprises that take out loans in excess of Rs 50 crore.

India Ratings lowers India’s FY23 GDP growth forecast to 7-7.2%

India Ratings and Research (Ind-Ra) has revised downwards the GDP growth forecast for India in FY23 to 7-7.2 per cent. Earlier in January, the rating agency Ind-Ra had forecast this rate at 7.6 per cent.

According to Ind-Ra, in scenario one, the crude oil price is assumed to be elevated for three months, and in scenario two, the assumption is for six months, both with a half cost pass-through into the domestic economy. Since the duration of the Russia-Ukraine conflict continues to be uncertain, Ind-Ra has created two scenarios with respect to the FY23 economic outlook basis certain assumptions.

Assam and Meghalaya have signed an agreement to resolve a border issue in six disputed districts

Assam and Meghalaya agreed to resolve their five-decade-long border dispute in six of the 12 contested places that have frequently sparked tensions between the two states, with Union Home Minister Amit Shah hailing the decision as a “historic day for the Northeast.” Chief Ministers of Assam and Meghalaya, Himanta Biswa Sarma and Conrad Sangma, respectively, inked the agreement in the presence of Shah.

KEY POINTS:

The agreement will end the long-running disagreement in six of the 12 points along the 884.9-kilometer boundary between the two States.
According to the home minister, the signing of the agreement has settled 70% of the border issue between the two countries, and he hopes to find a solution for the remaining six places shortly.
Manipur, Mizoram, Tripura, Meghalaya, Arunachal Pradesh, Nagaland, and West Bengal share a 2743-kilometer border with Assam. Nagaland, Mizoram, Meghalaya, and Arunachal Pradesh all have border conflicts with it.
There are 36 communities in the six locations, totaling 36.79 square kilometres, for which an agreement has been reached.
In August of last year, the two states appointed three committees each to investigate the thorny boundary issue. The panels were formed after two rounds of talks between Sarma and Sangma, during which the two neighbours agreed to settle the matter in stages.

According to the committees’ combined final set of recommendations, Assam will obtain complete control of 18.51 sq km of the 36.79 sq km disputed area taken up for settlement in the first phase, while Meghalaya will have full control of 18.28 sq km.

WB Governor unveiled PARAM Shakti, a petascale supercomputer at IIT Kharagpur

The National Supercomputing Mission (NSM), a collaborative project of the Ministry of Electronics and Information Technology (MeitY) and the Department of Science and Technology, has dedicated PARAM Shakti, a Petascale Supercomputer, to the country at IIT Kharagpur (DST).

KEY POINTS:

Shri Jagdeep Dhankhar, Honourable Governor of West Bengal, inaugurated the supercomputer on March 27, 2022.
The PARAM Shakti supercomputing facility is advancing research and development efforts in diverse disciplines of computational and data sciences.
In March 2019, IIT Kharagpur and the Centre for Development in Advanced Computing (CDAC) signed a Memorandum of Understanding (MoU) to develop this state-of-the-art Supercomputing Facility with 17680 CPU cores and 44 GPUs.
This facility was the first to use an RDHX-based efficient cooling system to achieve great power efficiency.

Both IIT Kharagpur and CDAC have thoroughly tested this system for commercial, open-source, and in-house software in a variety of applications.

Former CM of Sikkim B.B. Gurung passes away

The 3rd Chief Minister of Sikkim, Bhim Bahadur Gurung has passed away at his residence in Lumsui in Gangtok, Sikkim. B. Gurung served as a teacher and a staff reporter in a Calcutta (Kolkata)-based newspaper the Amrita Bazar Patrika and he also edited the first news-based Nepali Journal of Sikkim, called Kanchenjunga.

Gurung started his political career with Sikkim Rajya Congress Party in 1947 and was later appointed as the General Secretary in 1958. He served as the 3rd CM of Sikkim from 11 May to 24 May 1984, the shortest term in the history of Sikkim. Between 2014 and 2015 he served as the political advisor to the CM of Sikkim.

Mirabai Chanu bagged ‘BBC Indian Sportswoman of the Year’ award 2021

Olympic silver medallist weightlifter, Mirabai Chanu won the 3rd edition of the BBC Indian Sportswoman of The Year award 2021. Chanu created history last year when she became the first Indian weightlifter to clinch a silver medal at the Summer Olympics. Chanu won the gold medal in the 48kg division at the 2017 World Championships in Anaheim and followed up with Commonwealth Games gold in 2018.

Other awardees:

The BBC Emerging Player award was presented to 18-year-old cricketer Shafali Verma, who has recently been playing at the Women’s World Cup in New Zealand. In 2021, Verma became the youngest Indian cricketer, male or female, to play in all three formats for the national team.
The first Indian woman to have won a medal at the Olympics in 2000, former weightlifter Karnam Malleswari was presented the ‘BBC Lifetime Achievement’ award. Olympians and the Paralympians from the Tokyo Games were also honoured in this edition of BBC ISWOTY.

Living Root Bridges of Meghalaya included tentative list of World Heritage Sites

‘Jingkieng Jri or Living Root Bridge’, found in over 70 villages in Meghalaya highlighting the socio-cultural, social and botanical links between people and nature, has been included in the tentative list of World Heritage Sites of the United Nations Educational, Scientific and Cultural Organisation (UNESCO).

Villagers grow the living root bridges by training the ‘ficus elastica’ tree on both sides of water bodies over a period of about 10 to 15 years where the roots form the bridge. At present, there are about 100 known living root bridges spread across 72 villages in the state. Villagers, (especially Khasi and Jaintia tribal communities) build and maintain these bridges from the past for more than 600 years.

Other sites included in the list:

The Geoglyphs of the Konkan region of Maharashtra, Sri Veerabhadra Temple and Monolithic Bull (Nandi) at Lepakshi of Andhra Pradesh have made it to the Tentative list of UNESCO world heritage sites in 2022.

Important takeaways for all competitive exams: