Daily Current Affairs May 24 2022 | Latest News | Download PDF

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CURRENT AFFAIRS: IMPORTANT DAYS

International Day to End Obstetric Fistula -23rd May:

• Since 2013, the United Nations (UN) has observed the International Day to End Obstetric Fistula on May 23rd to encourage action toward treating and preventing obstetric fistula, a disorder that affects many girls and women following childbirth in underdeveloped nations.
• The United Nations Population Fund (UNFPA) and its partners started the global Campaign to End Fistula in 2003, a collaborative effort to prevent fistula and restore the health of people who have it.
• The day was made official in

About Obstetric fistula

• Obstetric fistula is a catastrophic birth injury that is both a public health and human rights issue.
• Two million women in low-income countries have an obstetric fistula, with 100,000 more developing one each year.

About United Nations Population Fund (UNFPA):

• Headquarters: New York, United States
• Head: Natalia Kanem
• Founded: 1969.

International Day for Biological Diversity -22^nd May:

• Every year on May 22nd, the International Day for Biological Diversity, also known as World Biodiversity Day, is held to raise awareness and understanding of biodiversity issues.
• The theme in 2022 is “Building a shared future for all life”.
• The slogan conveys the notion that biodiversity is the basis upon which we may rebuild better in the context of the ongoing United Nations Decade on Restoration, which emphasizes that biodiversity is the answer to various sustainable development concerns.

History:

• When the UN General Assembly’s Second Committee established the International Day for Biological Diversity in late 1993, the date of coming into force of the Convention on Biological Diversity (December 29) was chosen.
• The UN General Assembly designated 22 May as IDB in December 2000 to celebrate the approval of the Convention’s text by the Nairobi Final Act of the Conference for the Adoption of the Agreed Text of the Convention on Biological Diversity on that date in 1992.

CURRENT AFFAIRS: NATIONAL NEWS

Shri. Dharmendra Pradhan launched the North East Research Conclave 2022:

• The North East Research Conclave (NERC) 2022 was launched at IIT Guwahati by Shri Dharmendra Pradhan, Union Minister for Education and Skill Development.

IMPORTANT NOTES:

• When addressing about the importance of research, the education minister noted that the purpose of research should be to find solutions to the country’s chronic problems and to encourage everyone to join together, work together, and produce for the welfare of the most vulnerable.
• According to him, NERC 2022 will be a global benchmark for accomplishing India’s and the world’s research and development goals.
• Himanta Biswa Sarma, Chief Minister of Assam, emphasised in his consideration that R&D is vital for a rapidly rising country like India.
• This massive event will have a tremendous impact on the educational sector in the region.

India Celebrates 250th Birth Anniversary of Raja Ram Mohan Roy:

• The Ministry of Culture honoured Raja Ram Mohan Roy’s 250th birth anniversary with the Azadi ka Amrit Mahotsav.
• On May 22, 2022, the Ministry of Culture will have an inaugural ceremony.
• The inaugural ceremony was held at the Raja Ram Mohan Roy Library Foundation in Salt Lake, Kolkata, as well as the Science City Auditorium.
• It was Raja Ram Mohan Roy’s 250th birthday and the 50th anniversary of the Raja Ram Mohan Roy Library Foundation.
• Several ministers, including West Bengal Governor Jagdeep Dhankar, attended the opening ceremony.
• G Kishan Reddy, the union minister of culture, tourism, and development of the North-eastern Region (DoNER), also attended the ceremony remotely.

About His Contribution and Reforms:

• Raja Ram Mohan Roy was born in Radhanagar, West Bengal’s Hooghly District.
• He completed his higher education at Patna.
• During this period, he studied Persian and Arabic. He studied the Vedas, Upanishads, and Hindu philosophy in Varanasi after reading the Qur’an.
• He also studied Islam and Christianity.
• He founded the Atmiya Sabha in 1814, the Calcutta Unitarian Association in 1821, and the Brahmo Samaj in 1828.
• He battled for women’s rights, including the ability of widows and widowers to remarry and the right of women to own property.
• His tireless efforts resulted in the abolition of Sati Pratha in India in 1829.
• He also opposed caste, untouchability, superstition, and the usage of intoxicants.
• His revolts targeted child marriage, female illiteracy, and polygamy.
• He also founded the Bengali periodical Sambad Kaumudi, which tried to denigrate sati.

CURRENT AFFAIRS : STATE NEWS

Delhi Government Inducts 2 Robots In Its Firefighting Fleet

• The Delhi government has inducted a unique initiative of using robots for extinguishing fires in Delhi.
• This comes days after a massive fire ripped through a building in Mundka, killing 27 people.
• Previously, the Aam Aadmi Party (AAP) Government inducted two robots into Delhi’s firefighting fleet that will be able to douse fires in narrow streets, warehouses, basements, stairs, forests and enter places like oil and chemical tankers and
• For the first time such remote control robots have been brought into the country which are capable of controlling fire remotely.

About the Robots :

• It will also be capable of releasing high water pressure at the rate of 2,400 liters per minute.
• The robot will be able to douse fire even in places which firefighters cannot possibly access.
• This machine can be operated remotely from a distance of 300 meters.
• It will not be affected by fire, smoke, heat, or any other adverse condition.
• The robot has a 140-horsepower engine & there are many nozzles for water showers.
• The robot can run at a speed of 4 kilometers per hour.

Additional Info :

• The fire department stated the figure of 2,145 incidents is the highest in May,2022 so far as compared to the same period in the last 3 years.

About Delhi :

• Chief Minister : Shri Arvind Kejriwal
• Director of Delhi Fire Service : Atul Garg

CURRENT AFFAIRS : BANKING & FINANCE

Volopay ties with Visa to issue their own cards in APAC region

• A Y Combinator-backed corporate cards and payable management company, Volopay has partnered with Visa’s Fintech Fast Track Program to offer financial management solutions.
• The Fast Track Program will enable Volopay to begin issuing their own Visa cards to their shopper companies in the Asia-Pacific (APAC) region.
• The partnership program was founded by Visa in order to support innovative financial services and solutions.

About Volopay :

• Founded : 2020
• CEO and co-founder : Rajith Shaji
• Headquarters : Singapore
• It combines business accounts, corporate cards, bill payments, expense reimbursement, credit, cashback and accounting automation into a single platform.

HDFC Bank to have new vertical for rural banking

• India’s largest private sector lender HDFC Bank has carved out rural banking function as a separate vertical.

Aim of the Rural Banking function :

• To take banking products further in the hinterland & It will consolidate the bank’s existing initiatives in this direction, and take it closer to the last mile
• Anil Bhavnani, who has been with the bank for over 19 years, has been appointed National Rural Banking Head
• To expand its distribution in the rural areas, HDFC Bank will open over 1,064 branches in semi-urban and rural areas in the financial year.
• At present, the bank has 50 percent of its 6,342 branches in semi-urban and rural areas, and the remaining 50 percent in metro and urban areas.
• The bank also works with Village Level Entrepreneurs (VLE) of Common Service Centres (CSC) as an extension of the bank’s branches in far flung areas.

About HDFC Bank :

• Founded : August 1994
• Headquarters : Mumbai, Maharashtra, India
• CEO : Sashidhar Jagdishan
• MD : Renu Sud Karnad

RBI directs banks & ATMs on cardless cash withdrawals

• The Reserve Bank of India has directed all banks and ATM networks to provide the option of Interoperable Cardless Cash Withdrawal (ICCW), and that the National Payments Corporation of India (NPCI) support UPI integration with all banks and ATM networks.
• This is a step towards combating frauds like skimming, card cloning, and device tempering.
• While UPI will be employed for customer authorisation, such transactions would be settled through the National Financial Switch (NFS)/ATM networks.

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra
• Governor : Shaktikanta Das
• Deputy Governors : Mahesh Kumar Jain,M. Rajeshwar Rao,Michael Patra and T. Rabi Shankar

RBI allows trade transactions with Sri Lanka in INR

• The Reserve Bank of India (RBI) has allowed trade transactions with the island country to be settled in Indian Rupees (INR), outside the Asian Clearing Union (ACU) mechanism in view of the difficulties being experienced by exporters in receiving proceeds from Sri Lanka.
• Under the arrangement, financing of export of eligible goods and services from India, as defined under the agreement, would be allowed subject to their being eligible for export under the Indian Foreign Trade Policy and whose purchase may be agreed to be financed by SBI under this agreement.
• The credit facility under the agreement is available for draw-down up to 12 months from the signing date of agreement, i.e. March 16, 2023.
• In March 2022, the State Bank of India (SBI) entered into a credit facility agreement with the Sri Lankan government to sanction the Indian government’s guaranteed $1 billion term loan for financing the purchase of essential goods by Sri Lanka from India.
• Sri Lanka is facing its worst economic crisis since gaining independence from Britain in 1948.
• The crisis has been caused in part by a lack of foreign currency, which means the country cannot afford to pay for imports of staple foods and fuel, leading to acute shortages and very high prices.

About ACU :

• Established : Dec. 9, 1974
• Headquarters : Tehran, Iran
• Chairman : Chiranjibi Nepal
• Secretary General : Lida Borhan-Azad
• It is an initiative of the United Nations Economic and Social Commission for Asia and Pacific for promoting regional co-operation.

Objective :

• To facilitate payments among member countries for eligible transactions on a multilateral basis, thereby economising on the use of foreign exchange reserves and transfer costs, as well as promoting trade among the participating countries.

RBI board approves transfer of Rs 30,307 crore as surplus to Central Government for 2021-22

• The Reserve Bank of India’s (RBI) Central Board of Directors have approved the transfer of Rs 30,307 crore as surplus to the Central Government for the accounting year 2021-22
• At Rs 73,948 crore, the budgeted dividend revenue from the central bank and PSU banks was 27 percent lower than the Rs 1.01 lakh crore the Centre received in FY22.
• Out of this sum, the RBI had contributed a massive Rs 99,122 crore.
• The decision was taken during the 596th meeting of the Central Board of Directors of RBI held at Mumbai under the Chairmanship of Governor Shaktikanta Das.
• The decision has been taken keeping in mind the current economic situation, global and domestic challenges and the impact of geopolitical
• The board also decided to maintain the Contingency Risk Buffer at 5.50 percent.
• Deputy Governors Mahesh Kumar Jain, Dr Michael Debabrata Patra, M. Rajeshwar Rao, T Rabi Sankar and other Directors of the Central Board, viz. Satish K. Marathe, S. Gurumurthy, Revathy Iyer and Prof. Sachin Chaturvedi, Ajay Seth, Secretary, Department of Economic Affairs and Shri Sanjay Malhotra, Secretary, Department of Financial Services also attended the meeting.

HDFC rolls out Instant Home Loans offer on WhatsApp

• Mortgage lender HDFC Ltd. in association with Cogno AI has launched a first-of-its-kind ‘Spot Offer’ on WhatsApp, to provide an in-principle home loan approval to home buyers within two minutes.
• The Platform will enable prospective borrowers to get an in-principle home loan approval instantly.
• To avail the offer, users have to send the message on HDFC’s WhatsApp number (+91 9867000000) and provide some basic information.
• The home loan spot offer facility can be availed 24×7 & this facility can be availed by salaried resident Indians.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

IFS officer Mr Vivek Kumar appointed as Private secretary to  PM Shri Narendra Modi

• The Appointments Committee of the Cabinet approved the appointment of Indian Forest Service (IFS) Officer, Mr Vivek Kumar as new Private Secretary (PS) to Prime Minister Shri Narendra Modi at the joint secretary level.
• He will replace Mr Sanjeev Kumar Singla.
• The Private secretary is selected from the Indian Administrative Service and the Indian Foreign Service.
• The Private Secretary to the Prime Minister of India is the senior most bureaucrat and administrative officer in the PM’s office.

About Mr Vivek Kumar :

• Mr Vivek Kumar completed B.Tech in chemical engineering from IIT Bombay and has served in diplomatic positions in Russia and Australia.
• He is an IFS officer of the 2004 batch.
• He joined the Prime Minister’s Office as a Deputy Secretary in 2014.
• Currently, Mr Vivek Kumar is the director of the Prime Minister’s Office (PMO).

About Mr Sanjeev Kumar Singla :

• Mr Sanjeev Kumar Singla is a 1997 batch IFS officer.
• He was appointed as PS to the prime minister in 2014.
• Mr Singla returned to India to serve in the PMO after a brief posting in the Indian Embassy in Tel Aviv.
• He will be taking over as India’s Ambassador to Israel.

Mr Salil Parekh reappointed as MD & CEO of Infosys

• The board of directors of information technology giant Infosys has re-appointed Mr Salil Parekh as chief executive officer(CEO) & managing director(MD) of the company for a period of 5 years which is effective from July 1, 2022, till March 31, 2027.
• This is based on the recommendations of the Nomination and Remuneration Committee (NRC) and subject to the approval of shareholders.
• Infosys board of directors has also approved a grant of 104,000 shares to 6 key management personnel and another 375,760 shares to 88 other senior executives.

About Mr Salil S. Parekh :

• Mr Salil S.Parekh has more than 30 years of global experience in the IT services industry.
• He was a member of the Group Executive Board at Capgemini.
• He was a Partner at Ernst & Young and is widely credited for bringing scale and value to the Indian operations of the consultancy firm.
• He has been the Chief Executive Officer and Managing Director of Infosys since January 2018 and has successfully led the Company over the last 4 years.

About Infosys :

• Founded : 2 July 1981
• Headquarters : Bangalore, Karnataka, India
• Chairman : Nandan Nilekani
• Infosys is the second-largest Indian IT company after Tata Consultancy Services.

Mr Vijay Shekhar Sharma reappointed as MD & CEO of Paytm

• One 97 Communications, which operates under Paytm brand, has reappointed its founder Mr Vijay Shekhar Sharma as managing director (MD) and chief executive officer (CEO) for another 5 years effective from December 19, 2022, to December 18, 2027.
• The Company also announced the appointment of Mr Madhur Deora as Additional Director of the company for a tenure of 5 years from May 20, 2022, to May 19, 2027.
• Also the Board has approved the appointment of Mr Deora as the “Whole-time Director and Chief Financial Officer” of Paytm.
• Mr Deora is the President and Group Chief Financial Officer of Paytm.

About Mr Vijay Shekhar Sharma :

• Mr Vijay Shekhar was born on 7 June 1978 in Aligarh, Uttar Pradesh.
• He is an Indian technology entrepreneur who has played an instrumental role in revolutionizing the digital payments and financial services landscape in India.
• Under his guidance, Paytm is on a mission to bring half a billion Indians into the mainstream economy.
• In 2020, the ICANN-supported Universal Acceptance Steering Group appointed him as UA Ambassador in India.

Awards & Honors :

• Mr Sharma was named to Time magazine’s ‘2017 Time 100’ list of the world’s “hundred most important individuals.”
• He received All India Management Association’s ‘Entrepreneur of the Year’ award in 2018, ‘Entrepreneur of the Year’ at the ET Awards for Corporate Excellence’ in 2016, and ‘GQ Man of the Year’ in 2016.
• He is the recipient of Yash Bharati, the highest civilian honor of the Government of Uttar Pradesh.

About Paytm :

• Founded : August 2010
• Headquarters : Noida, Uttar Pradesh, India
• President : Amit Nayyar

Mr Anthony Albanese sworn in as new PM of Australia

• On May 23, 2022, Mr Anthony Albanese was sworn in as Australia’s 31st Prime Minister at Government House, Canberra.
• Mr Anthony Albanese’s Labor Party defeated the ruling coalition led by Mr Scott Morrison in Australia federal elections 2022.
• During his oath-taking ceremony, Anthony Albanese vowed to tackle climate, inequality, rising living cost, promising a journey of change.
• He was sworn in with four key cabinet members, including

1. Foreign Minister – Mr Penny Wong
2. Deputy prime minister and employment minister – Mr Richard Marles
3. Treasurer- Mr Jim Chalmers ,
4. Attorney-general and finance minister – Mr Katy Gallagher.

• Mr Anthony Albanese will be holding one-on-one meetings with each QUAD leader in Japan including Prime Minister Narendra Modi.

Note :

• Mr Anthony Albanese has become the first Italian Australian to become Prime Minister of the country, bringing an end to almost a decade of conservative rule in Australia.

About Mr Anthony Albanese :

• He has been an Australian Member of Parliament (MP) for Grayndler since 1996.
• He was first appointed to the Shadow Cabinet in 2001 by Simon Crean & eventually became Manager of Opposition Business in 2006.
• He held the key position of leader of the House following the 2010 hung parliament under Julia Gillard
• He had served as deputy prime minister of Australia under the second government led by Kevin Rudd in 2013.
• From 2007 to 2013, cabinet minister in the Rudd and Gillard governments.
• He was elected unopposed as the leader of Australian Labor Party in 2019 after the resignation of Bill Shorten and became the leader of Opposition.
• He worked as New South Wales Labor’s assistant general secretary for six years in the 1990s before being elected to federal parliament.

Additional Info :

• The Quadrilateral Security Dialogue (Quad) is a strategic and security forum of Australia, India, Japan, and the United States that was initiated in 2007.

About Australia :

• Capital: Canberra
• Currency: Australian dollar

CURRENT AFFAIRS : AWARDS & HONORS

Subhash Ola wins Amazon Smbhav Entrepreneurship Challenge 2022

• An innovator from Rajasthan , Mr Shri Subhash Ola has won the 1st prize for the Amazon Smbhav Entrepreneurship Challenge 2022 and his enterprise “Geniusenergy Critical Innovation Private Limited” has won the Start-up of the Year award.
• He has developed the technology of saving energy in boilers by recycling steam.
• The technology was first developed to make khoya and other milk products, & the portfolio of applications were later extended to textile, milk and food, pharma, plywood, paper mills, leather industry, chemical industry, hot water boiler generator, plastic recycle, laundry, hospitals etc.
• Mr Shri Ola was one amongst, close to 2000 entrepreneurs of our country contesting for this Start-up of the Year award, representing 240 cities across the length and breadth of the country.

About Mr Shri Subhash Ola :

• He was conferred with National Innovation Foundation (NIF’s) 8th Biennial National Grassroots Innovation and Outstanding Traditional Knowledge Award in the year
• He was also invited to be part of the 4th Batch of Innovation Scholar-In-Residence Programme of the Rashtrapati Bhavan.

About Geniusenergy Critical Innovation Private Limited :

• Geniusenergy Critical Innovation, a start-up recognized by the Govt. of India, was incubated by the National Innovation Foundation (NIF), an autonomous body of the Department of Science and Technology (DST), Govt. of India.
• It serves clientele in a variety of industries for their energy needs, helps them reduce cost, and at the same time protects the environment.
• Founded : 2016
• Headquarters : Jaipur,Rajasthan, India
• CEO : Subhash Ola

Aim :

• To provide high quality products in diverse specifications within a scheduled time period.

About Amazon Smbhav Entrepreneurship Challenge 2022 :

• Amazon India launched the Amazon Smbhav Entrepreneurship Challenge 2022.
• It is open to startups across all industries, verticals and business models.
• The 3rd edition of its annual flagship summit Amazon Smbhav being organised on the 18th & 19th of May,2022.
• The initiative will provide participating startups from anywhere in the country a chance to showcase their business proposition and get a chance to win cumulative cash prizes up to INR 65 lakhs and other rewards.

Cummins India’s Ms Anjali Pandey bags the CII EXCON Committed Leader Award 2022

• Cummins India’s Ms Anjali Pandey has been awarded the prestigious Committed Leader Award at CII EXCON 2022 in Bengaluru,Karnataka.
• She was awarded for her deep-rooted commitment and efforts to create a more diverse, equitable and inclusive workplace.
• Ms Pandey holds the position of Engines and Components Business Unit Leader at Cummins India.

About Cummins India :

• Cummins views Diversity, Equity, and Inclusion (DE&I) as a competitive advantage and hence it’s a business imperative.
• Cummins India has taken active measures to increase its female representation over the past few years resulting in an increase in gender diversity ratio from 5 to 32% over the last two decades, which is a significant achievement for a manufacturing organization.
• To provide equal opportunities to women,it drives various initiatives including Women in Technology, gender balance during recruitment, ensuring pay parity, gender-neutral workstations, Cummins Women& Empowerment Network, flexible work arrangements, and award-winning breastfeeding-friendly facilities for new mothers, all of which are strongly supported by leadership.

Additional Info :

• DE&I efforts within Cummins India & EBU (Engine Business Unit) and CBU (Components Business Unit) segments have resulted in a reduction in women attrition from 13.8 percent in 2019 to 11 percent in 2021.

CURRENT AFFAIRS : DEFENCE NEWS

4th edition of India-Bangladesh Navy Coordinated Bilateral CORPAT exercise commences in Northern Bay of Bengal

• On May 22, 2022, The fourth edition of the Indian Navy-Bangladesh Navy Coordinated Patrol (CORPAT) commenced in the Northern Bay of Bengal .
• Indian Navy and Bangladesh Navy units will undertake joint patrolling along the International Maritime Boundary Line (IMBL) till 23 May 22.
• The last IN-BN CORPAT was conducted in October 2020.

Key Highlights :

• Indian Navy’s indigenous warships, INS Kora, a guided-missile corvette and INS Sumedha, an offshore patrol vessel along with Bangladesh Navy’s warships BNS Ali Haider and BNS Abu Ubaidah are participating in the exercise.
• Maritime Patrol Aircraft of both navies will also undertake joint patrol along the International Maritime Boundary Line (IMBL) during CORPAT.
• The regular conduct of CORPATs has strengthened mutual understanding and enhanced interoperability between both the navies in countering transnational maritime threats at sea.

About Ministry of Defence :

• Defence Minister : Rajnath Singh
• Minister of State : Ajay Bhatt
• Secretary : Dr. Ajay Kumar

About Indian Navy :

• Chief of the Naval Staff : Hari Kumar

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

NASA & Boeing successfully launches Starliner spacecraft

• The National Aeronautics and Space Administration(NASA) & Boeing successfully launched Starliner spacecraft – uncrewed mission called Orbital Flight Test 2 (OFT-2) from Space Launch Complex-41 at Cape Canaveral Space Force Station in Florida, USA.
• It was carried out by the United Launch Alliance (ULA) Atlas V rocket on a mission designed to test the end-to-end capabilities of the crew-capable system as part of NASA’s Commercial Crew Program.
• OFT-2 will provide valuable data toward NASA certifying Boeing’s crew transportation system for regular flights with astronauts to and from the space station.
• OFT-2’s liftoff was marking the 150th launch for the rocket company, which is a joint effort of Lockheed Martin and Boeing.

About NASA :

• Established : July 29, 1958
• Headquarters : Washington, D.C, USA
• Administrator : Bill Nelson

About Boeing :

• Founded : July 15, 1916
• Headquarters : Chicago, Illinois, U.S
• President & CEO : Dave Calhoun
• Chairman : Larry Kellner

CURRENT AFFAIRS : RANKS & REPORTS

The State of Inequality in India Report released – Dr Bibek Debroy

• Chairman, Economic Advisory Council to the Prime Minister (EAC-PM), Dr Bibek Debroy has released the State of Inequality in India Report.
• The report has been written by the Institute for Competitiveness and presents a holistic analysis of the depth and nature of inequality in India.
• The panelists for the launch included Dr Poonam Gupta, Director General, NCAER and a member of the Economic Advisory Council to the Prime Minister and Dr Charan Singh, Chief Executive at Foundation for Economic Growth and Welfare (EGROW) and Professor Suresh Babu of IIT Madras.

About the report :

• The report compiles information on inequities across sectors of health, education, household characteristics and the labor market.
• As per the report, inequities in above sectors make the population more vulnerable and triggers a descent into multidimensional poverty.
• The report Consists of two parts

1. Economic Facets
2. Socio-Economic Manifestations

• The report indicated five key areas that influence the nature and experience of inequality ie

1. Income distribution
2. Labour market dynamics
3. Health
4. Education
5. Household characteristics.

• The report is Based on the data derived from various rounds of the Periodic Labour Force Survey (PLFS), National Family and Health Survey (NFHS) and Unified District Information System for Education (UDISE) etc.
• The report stretches the narrative on inequality by presenting a comprehensive analysis that shapes the ecosystem of various deprivation in the country, which directly impacts the well-being of the population and overall growth.
• It is a study that cuts across the intersections of class, gender, and region and highlights how inequality affects the society.

Key Highlights of the Report :

Inequality :

• For the first-time focus on income distribution to understand the capital flow, the report prominently shows that wealth concentration as a measure of inequality does not reveal the changes in the purchasing capacity of households.
• The share of the top 1% accounts for 6-7% of the total incomes earned, while the top 10% accounts for one-third of all incomes earned.
• The information available on inequality, which this report brings out, will help formulate reform strategies, a roadmap for social progress and shared prosperity.

Employment categories :

• In 2019-20, among different employment categories, the highest percentage was self-employed workers (45.78%), followed by regular salaried workers (33.5%) and casual workers (20.71%).
• The share of self-employed workers also happens to be the highest in the lowest income categories.
• The country’s unemployment rate is 4.8% (2019-20), and the worker population ratio is 46.8%.

Health Infrastructure:

• In Health Infrastructure there has been a considerable improvement in increasing the infrastructural capacity with a targeted focus on rural areas i.e. in India, total health centers increased from 1,72,608 in 2005 to 1,85,505 in 2020.
• States and Union Territories like Rajasthan, Gujrat, Maharashtra, Madhya Pradesh, Tamil Nadu and Chandigarh have significantly increased health centers (comprising Sub-Centres, Primary Health Centers, and Community Health Centers) between 2005 and 2020.
• The results of NFHS-4 (2015-16) and NFHS-5 (2019-21) have shown that 6% of women received antenatal check-ups in the first trimester in 2015-16, which increased to 70% by 2019-21.
• 78% of women received postnatal care from a doctor or auxiliary nurse within two days of delivery, and 79.1% of children received postnatal care within two days of delivery.
• However, nutritional deprivation in terms of overweight, underweight, and prevalence of anemia (especially in children, adolescent girls and pregnant women) remains areas of huge concern requiring urgent attention.
• Additionally, low health coverage, leading to high out-of-pocket expenditure, directly affects poverty incidences.

Education and household conditions :

• Education and household conditions have improved hugely due to targeted efforts through several social protection schemes, especially in the area of water availability and sanitation that have increased the standard of living.
• It is emphasized that education and cognitive development from the foundational years is a long-term corrective measure for inequality.
• By 2019-20, 95% of schools will have functional toilet facilities on the school premises (95.9% functional boy’s toilets and 96.9% functional girl’s toilets).
• 16% of schools have functional electricity connections with States and Union Territories like Goa, Tamil Nadu, Chandigarh, Delhi, Dadra and Nagar Haveli and Daman and Diu, Lakshadweep and Puducherry have achieved universal (100%) coverage of functional electricity connections.
• The Gross Enrolment Ratio has also increased between 2018-19 and 2019-20 at the primary, upper primary, secondary and higher secondary.
• In terms of improvement in household conditions, emphasis on providing access to sanitation and safe drinking water has meant leading a dignified life for most households.
• According to NFHS-5 (2019-21), 97% of households have electricity access, 70% have improved access to sanitation, and 96% have access to safe drinking water.

Recommendations of the Report :

• Creating income slabs that provide class information
• Establishing universal basic income
• Creating jobs, especially among the higher levels of education and increasing the budget for social protection schemes

About EAC-PM :

• Economic Advisory Council to the Prime Minister (PMEAC)is a non-constitutional, non-permanent and independent body constituted to give economic advice to the Government of India, specifically the Prime Minister.
• Headquarters : New Delhi, Delhi, India

CURRENT AFFAIRS: SPORTS NEWS

Max Verstappen of Red Bull wins the Spanish Grand Prix:

• Max Verstappen won the Spanish Grand Prix in a Red Bull, taking up the lead from Ferrari’s Charles Leclerc, who retired with an engine failure while leading at the Circuit de Barcelona-Catalunya.
• After being told to allow his teammate pass for a third victory in a row after Imola and Miami, Mexican Sergio Perez finished second, 13 seconds behind but with the consolation of a bonus point for fastest lap.
• George Russell of the United Kingdom finished third for a resurrected Mercedes after fighting wheel-to-wheel with Verstappen early on in a dramatic display of defensive driving as they battled for second place behind Leclerc.

About Max Verstappen:

• Max Emilian Verstappen is a Belgian-Dutch racing driver and the 2021 Formula One World Champion.
• He competes under the Dutch flag in Formula One with Red Bull Racing.
• He is the son of former Formula One driver Jos Verstappen.

GM Rameshbabu Praggnanandha, wins the 36th Reykjavik Open 2022:

• Rameshbabu Praggnanandha wins Reykjavik Open 2022 held in Iceland at the age of 16.
• Rameshbabu Praggnanandha, who was born on August 10, 2005, is an Indian Grandmaster and chess legend.
• He began travelling internationally at an early age and has now visited 30 countries to display his talent.
• He has faced off against some of the game’s most notable figures.
• On 22nd February 2022, at the age of 16, he became the youngest player ever to defeat the world champion, Magnus Carlsen, at the Airthings Masters Rapid Chess Tournament.
• On May 20, 2022, he defeated Carlsen once more in the Chessable Masters Online rapid chess event.
• It was his second victory over world champion Magnus Carlsen in three months.

Chess player Rameshbabu Praggnanandha

• Praggnanandha won the World Youth Chess Championship under-8 championship in 2013.
• He became a FIDE master at the age of seven.
• He also won the under-10 title in 2015.
• Praggnanandha was named the youngest international master in history in 2016, at the age of ten.
• He earned his first Grandmaster norm at the World Junior Chess Championship in November of 2017.
• He earned his second norm at the Herakleion Fischer Memorial Grandmaster norm competition in Greece in April 2018.
• In 2021, he competed in the Chess World Cup 2021, defeating GM Gabriel Sargissian 2-0 and progressing to round 4 after defeating GM Michal Krasenkow.
• Unfortunately, Maxime Vachier-Lagrave knocked him out in the fourth round.
• On February 20, 2022, he defeated world champion Magnus Carlsen, becoming the third Indian player to do so in any time frame.
• Praggnanandha won the Reykjavik Open competition in Iceland in 2022.

Odisha won the 12th Senior Women’s National Championship in Hockey India:

• Odisha’s women’s team earned their first Senior Nationals gold medal, defeating Karnataka 2-0 in the final of the 12th Hockey India Senior Women’s National Championship.
• Earlier, in the third-fourth place match, Hockey Jharkhand defeated Hockey Haryana 3-2. Bhopal, Madhya Pradesh, hosted the 12th Hockey India Senior Women’s National Championship.

About the Match:

• However, strong defensive performances from both teams meant that the game went into halftime with a score of 0-0.
• Punam Barla (34) opened the scoring in the third quarter as Odisha took the lead.
• Odisha won the championship with a 2-0 victory over Karnataka, thanks to a late goal by Ashim Kanchan Barla.

Rhythm Mamania, a 10-year-old girl from Maharashtra, has reached Everest base camp:

• Rhythm Mamania, a 10-year-old champion skater from Worli, has become one of the youngest Indian mountaineers to reach the Everest Base Camp (EBC) in Nepal’s Himalayan ranges.
• She has joined a group of young Indian climbers to reach the base camp.
• Rhythm accomplished a unique accomplishment by climbing to the base camp at an altitude of 5,364 metres in 11 days.

About the Adventure by Rhythm

• Satori Adventures, located in Nepal, took Rhythm to base camp.
• He was accompanied by a group of Kutch trekkers.
• Rishi Bhandari of Satori Adventures in Nepal arranged the 11-day expedition.
• During the base camp trek Rhythm walked for 8-9 hours at various steep terrain in varying climatic conditions, which included lashing of hailstones and snowfall, and in temperatures as low as minus 10 degrees Celsius.
• After reaching the base camp, other members of the group decided to take the helicopter on the way back, but Rhythm insisted that she would walk down. And hence four of us decided to descend it.

UEFA Europa Football League title won by Germany’s Eintracht Frankfurt:

• German club Eintracht Frankfurt won their first European championship in 42 years after defeating Rangers on penalties 5-4 in Seville, Spain.
• Kevin Trapp, the goalkeeper, made two saves at the end of extra time and another in the shootout to help Frankfurt win on penalties 5-4.
• Rangers of Scotland were also attempting to capture their first European trophy since the Cup Winners’ Cup in 1972.
• Man of the Match went to Kevin Trapp of Eintracht Frankfurt.

Additional info.

• Colombia striker Rafael Borré, who equalised for Frankfurt in the second half, converted the deciding penalty to give the club its first European trophy since the 1980 UEFA Cup, a precursor to the Europa League.
• The victory also assures Frankfurt’s first appearance in the Champions League next season.

Daily CA on May 24 :

• Since 2013, the United Nations (UN) has observed the International Day to End Obstetric Fistula on May 23rd to encourage action toward treating and preventing obstetric fistula, a disorder that affects many girls and women following childbirth in underdeveloped nations.
• Every year on May 22nd, the International Day for Biological Diversity, also known as World Biodiversity Day, is held to raise awareness and understanding of biodiversity issues.
• The North East Research Conclave (NERC) 2022 was launched at IIT Guwahati by Shri Dharmendra Pradhan, Union Minister for Education and Skill Development.
• Nirmala Sitharaman, Union Finance Minister, is delivering the Union Budget 2022 for the fourth time in a row.
• The Ministry of Culture honoured Raja Ram Mohan Roy’s 250th birth anniversary with the Azadi ka Amrit Mahotsav.
• The Delhi government has inducted a unique initiative of using robots for extinguishing fires in Delhi.
• A Y Combinator-backed corporate cards and payable management company, Volopay has partnered with Visa’s Fintech Fast Track Program to offer financial management solutions.
• India’s largest private sector lender HDFC Bank has carved out rural banking function as a separate vertical.
• The Reserve Bank of India has directed all banks and ATM networks to provide the option of Interoperable Cardless Cash Withdrawal (ICCW), and that the National Payments Corporation of India (NPCI) support UPI integration with all banks and ATM networks.
• The Reserve Bank of India (RBI) has allowed trade transactions with the island country to be settled in Indian Rupees (INR), outside the Asian Clearing Union (ACU) mechanism in view of the difficulties being experienced by exporters in receiving proceeds from Sri Lanka.
• The Reserve Bank of India’s (RBI) Central Board of Directors have approved the transfer of Rs 30,307 crore as surplus to the Central Government for the accounting year 2021-22.
• Mortgage lender HDFC Ltd. in association with Cogno AI has launched a first-of-its-kind ‘Spot Offer’ on WhatsApp, to provide an in-principle home loan approval to home buyers within two minutes.
• The Appointments Committee of the Cabinet approved  the appointment of Indian Forest Service (IFS) Officer, Mr Vivek Kumar as new Private Secretary (PS) to Prime Minister Shri Narendra Modi at the joint secretary level & he will replace Mr Sanjeev Kumar Singla.
• The board of directors of information technology giant Infosys has re-appointed Mr Salil Parekh as chief executive officer(CEO) & managing director(MD) of the company for a period of 5 years which is effective from July 1, 2022, till March 31, 2027.
• One 97 Communications, which operates under Paytm brand, has reappointed its founder Mr Vijay Shekhar Sharma as managing director (MD) and chief executive officer (CEO) for another 5 years effective from December 19, 2022, to December 18, 2027.

• On May 23, 2022, Mr Anthony Albanese was sworn in as Australia’s 31st Prime Minister at Government House, Canberra.
• An innovator from Rajasthan , Mr Shri Subhash Ola has won the 1st prize for the Amazon Smbhav Entrepreneurship Challenge 2022 and his enterprise “Geniusenergy Critical Innovation Private Limited” has won the Start-up of the Year award.
• Cummins India’s Ms Anjali Pandey has been awarded the prestigious Committed Leader Award at CII EXCON 2022 in Bengaluru,Karnataka.
• On May 22, 2022, The fourth edition of the Indian Navy-Bangladesh Navy Coordinated Patrol (CORPAT) commenced in the Northern Bay of Bengal .
• The  National Aeronautics and Space Administration(NASA) & Boeing successfully launched Starliner spacecraft – uncrewed mission called Orbital Flight Test 2 (OFT-2) from Space Launch Complex-41 at Cape Canaveral Space Force Station in Florida, USA.
• Chairman, Economic Advisory Council to the Prime Minister (EAC-PM), Dr Bibek Debroy has released the State of Inequality in India Report.

• Max Verstappen won the Spanish Grand Prix in a Red Bull, taking up the lead from Ferrari’s Charles Leclerc, who retired with an engine failure while leading at the Circuit de Barcelona-Catalunya.
• Rameshbabu Praggnanandha wins Reykjavik Open 2022 held in Iceland at the age of 16.
• Odisha’s women’s team earned their first Senior Nationals gold medal, defeating Karnataka 2-0 in the final of the 12th Hockey India Senior Women’s National Championship.
• Rhythm Mamania, a 10-year-old champion skater from Worli, has become one of the youngest Indian mountaineers to reach the Everest Base Camp (EBC) in Nepal’s Himalayan ranges.
• German club Eintracht Frankfurt won their first European championship in 42 years after defeating Rangers on penalties 5-4 in Seville, Spain.