Daily Current Affairs 19th July 2022

RBI, Banking and Economy

• Hinduja Leyland Finance to merge with group firm NxtDigital in 9 months
  • Chennai-based Hinduja Leyland Finance (HLF), the finance arm of commercial vehicle maker Ashok Leyland, will merge with a listed group company called NxtDigital within nine months.

• Outward remittances by domestic residents was at $2.03 billion in May 2022
  • According to Reserve Bank of India (RBI) data, outward remittances by domestic residents were stable sequentially at $2.03 billion in May 2022 with close to $1 billion being spent on travel.
  • Total remittances rose by 61.8 per cent year-on-year (YoY) to $2.03 billion in May 2022 from $1.25 billion in May 2021.

• Morgan Stanley cuts India's FY23 GDP forecast to 7.2%
  • Morgan Stanley have lowered their GDP growth estimates. They now expect the Indian economy - as measured by GDP - to grow at 7.2 per cent in fiscal 2022-23 (FY23), 40 basis points (bps) lower than their earlier estimates.
  • For FY24, the revised projection stands at 6.4 per cent - down 30 bps.

SEBI and FINANCIAL AWARENESS

• Stock exchanges, persons dealing in securities market to pay 18 per cent GST on SEBI’s fee
  • All the market infrastructure institutions, companies who have listed/are intending to list their securities, other intermediaries and persons who are dealing in the securities market will need to pay the fees and other charges payable to SEBI shall be subject to GST (Goods and Services Tax) at the rate of 18 per cent with effect from July 18, 2022.

NABARD & AGRICULTURE

• India’s Agri And Processed Food Products Exports Up By 14% To $5,987 Mn
  • The Ministry of Commerce and Industry said that the exports of agricultural and processed food products rose by 14 per cent in the first three months of the current financial year 2022-23 (April-June) compared to the corresponding period of FY 2021-22.
  • For 2022-23, the government had set an export target of USD 23.56 billion for the agricultural and processed food products basket under APEDA.

NATIONAL

• NAMASTE scheme for cleaning of sewers, septic tank
  • The Government has formulated a National Action Plan for Mechanized Sanitation Ecosystem- NAMASTE scheme for cleaning of sewers and septic tank.
  • The scheme is a joint venture of Department of Drinking Water and Sanitation, Ministry of Social Justice and Empowerment and the Ministry of Housing and Urban Affairs.

• Chairman Railway Board inaugurates Iconic Week Celebrations of ‘Azadi Ki Rail Gadi aur Stations’
  • Indian Railways is celebrating the iconic week of “Azadi ki Rail Gadi aur Stations" at 75 stations and 27 trains from 18 to 23 July.
  • These specific trains and stations mark important places and events which are associated with the glorious history of India’s struggle for freedom.

STATES

• La. Ganesan sworn in as Bengal Governor
  • Manipur Governor La. Ganesan took charge as the Governor of West Bengal.
  • La. Ganesan was administered oath by Chief Justice of Calcutta High Court Prakash Srivastava at Raj Bhavan in Kolkata.

• Rajasthan gets AI-powered tool for fast disposal of cases at Lok Adalat
  • National Legal Services Authority Chairman Uday Umesh Lalit launched the country’s first AI-powered digital Lok Adalat during the 18th All India Legal Services Authorities’ meet.
  • The digital Lok Adalat by Rajasthan State Legal Services Authority (RSLSA) was designed and developed by its technology partner Jupitice Justice Technologies.

REPORTS AND INDEXES

• Farmers' average income grew 1.3-1.7x between FY18 and FY22: SBI study
  • A study by India’s largest bank, SBI, shows that between financial year 2017-18 and 2021-22, the average income of farmers rose by 1.3 -1.7 times across India, while in some crops like soybean in Maharashtra and cotton in Karnataka, incomes have in fact doubled during the same time.

DEFENCE

• Kargil War Commemorative Motorcycle Expedition to Dras(Ladakh) Flagged off from New Delhi
  • To commemorate the 23 years of victory over Pakistan in Kargil War of 1999 and celebrate the spirit of ‘Azadi Ka Amrit Mahotsav’, the Indian Army has organised a Motor Bike expedition from New Delhi to the Kargil War Memorial at Dras (Ladakh).
  • The 30-member rally was flagged off from the National War Memorial, New Delhi on 18 July 22.

EVENTS

• DAY-NRLM, MoRD organized “Udyamita Pakhwara” from 1st to 15th July, 2022
  • Deendayal Antyodaya Yojana - National Rural Livelihood Mission (DAY-NRLM) of the Ministry of Rural Development organized “Udyamita Pakhwara” across the Country from 1st to 15th July, 2022.
  • The objective of this Udyamita Pakhwara was to highlight the importance of enterprise growth and entrepreneurship development under non-farm livelihoods in rural areas across the country.

SPORTS

• Narinder Batra quits as FIH and IOA president
  • Narinder Batra resigned as the International Hockey Federation (FIH) president through a hand-written note citing ‘personal reasons’.
  • He also tendered his resignation as the IOA president, even though he had already been asked to step aside by a court order that termed his continuation as IOA president illegal.

• Mairaj Khan wins skeet gold
  • Mairaj Ahmad Khan won the men’s skeet gold in the shooting World Cup in Changwon, Korea.
  • The Indian women’s rifle 3-position team of Anjum Moudgil, Ashi Chouksey, and Sift Kaur Samra won the bronze, behind Germany and Korea, by beating Austria.

• Bangladesh ODI Skipper Tamim Iqbal Announces Retirement From T20I Cricket
  • Bangladesh’s most successful opener and One-day International captain Tamim Iqbal has announced his retirement from T20 Internationals.