Current Affairs in English – July 20 2022

July 20 , 2022

National Events:

1st Al – powered digital Lok Adalat:

• India’s 1st Al – powered digital Lok Adalat was launched in Jaipur , Rajasthan on 17 July 2022 .It was launched by National Legal Services Authority Chairman Uday Umesh Lalit during the 18th All India Legal Services Authorities ‘ meet held in Rajasthan .
• This event was inaugurated by Chief Justice of India N V Ramana . The digital Lok Adalat has been developed by Jupitice Justice Technologies .

ONGC:

• Rajarshi Gupta has taken over as Managing Director of ONGC Videsh Ltd ( OVL ) , the overseas investment arm of Oil and Natural Gas Corporation ( ONGC ) . He replaces Alok Gupta who superannuated in June 2022 .
• Prior to this , he was Executive Director – Chief of Corporate Strategy & Planning in ONGC . He set up the Geological & Geophysical Centre of Excellence in Houston .

Bajaj Allianz Life Insurance and DBS Bank India:

• Bajaj Allianz Life Insurance and DBS Bank India have announced a strategic partnership to offer life insurance solutions to the bank’s customers .
• New and existing customers across the 550+ branches of DBS Bank can now choose from Bajaj Allianz Life’s retail products including term , savings , retirement , and investment products .

Ookla’s Speedtest Global Index:

• India dropped three spots globally for mobile speeds to rank 118 in June 2022 .Median mobile download speeds fell to 14.00 Mbps from 14.28 Mbps in May 2022 , according to Ookla’s Speedtest Global Index .
• For the month of June , Norway ranks first at 126.96 Mbps in the median mobile download speed index and Chile ranks first at 213.73 Mbps in the median broadband download speed index .

RBI & Cooperative Banks:

• The Reserve Bank has announced severe restrictions on three cooperative banks . These include two banks from Maharashtra , the Nashik Zilla Girna Sahakari Bank Limited and the Raigad Sahakari Bank besides Karnatka – based Sri Mallikarjuna Pattana Sahakari Bank .
• Considering their poor liquidity position , the Reserve Bank has prohibited these three banks from conducting any banking activity .

Minimum Capital Adequacy Ratio ( CAR ):

• RBI has hiked the minimum Capital Adequacy Ratio ( CAR ) for Urban Cooperative Banks ( UCBs ) with deposits above Rs 100 crore to 12 per cent from 9.0 per cent . RBI has allowed till March 2026 to meet revised CAR norm in phases for UCBs that don’t meet it currently .
• It has retained the norm of a minimum CAR of 9 per cent for tier – 1 banks . Tier – 1 banks are those with deposits up to Rs 100 crore .

BCCI:

• The Board of Control for Cricket in India ( BCCI ) has appointed retired Supreme Court judge Vineet Saran as the ombudsman and ethics officer .
• Both of these posts were lying vacant for a year . Saran has succeeded Justice ( Retd ) D K Jain , whose term ended in June 2021 . Saran has also served as Chief Justice of the Odisha High Court . BCCI Founded : 1928 .BCCI President : Sourav Ganguly.

KVIC:

• Manoj Kumar assumed the charge as Chairman of the Khadi and Village Industries Commission ( KVIC ) in July 2022 .He has succeeded Vinai Kumar Saxena , who was appointed the Lt Governor of Delhi on 23 May 2022 .
• Manoj Kumar was earlier part of KVIC as the Expert Member ( Marketing ) . KVIC is a statutory body incorporated under the Parliament Act with the aim to develop Khadi in rural areas .

Mangal Pandey birth anniversary : 19 July:

• The birth anniversary of Mangal Pandey , the leader of the legendary Revolt of 1857 , was observed on 19 July .He was born in Akbarpur on 19 July 1827 to a landowning family .
• He played a key role in the events that led to India’s first major rebellion against the British Empire in 1857 which is also known as the First War of Independence . Pandey was executed on 8 April 1857 .

SEBI:

• Pramod Rao on 19 July 2022 took charge as executive director of Securities and Exchange Board of India ( SEBI ) .He will handle the Department of Debt and Hybrid Securities ( DDHS ) and Enquiry and Adjudication Department ( EAD ) .
• Before this , he held the position of Group General Counsel at ICICI Bank . SEBI founded in 1988 . SEBI Headquarters – Mumbai. SEBI Chairman – Madhabi Puri Buch.

Indian Institute of Technology ( IIT ) Kanpur:

• The Indian Institute of Technology ( IT ) Kanpur has developed a bio – inspired artificial muscle for next – generation space robots and medical prostheses .It has been developed at the institute’s Smart Materials , Structures and Systems ( SMSS ) Lab .
• This artificial muscle can be used to reinforce Indian space technology and also create adaptive robotic prostheses .

Urban Co – operative Banks ( UCBS ):

• On the recommendations of an expert committee headed by NS Vishwanathan , RBI has adopted a four – tiered regulatory framework for Urban Co – operative Banks ( UCBS ) based on size of deposits , with an aim to strengthen their financial soundness .
• A minimum net worth of Rs 2 crore for Tier 1 UCBs operating in single district and Rs 5 crore for all other UCBs ( of all tiers ) has been stipulated .

International Events:

International Moon Day : 20 July:

• July 20 , 2022 marked the inaugural celebration of International Moon Day .The United Nations General Assembly , on December 9 , 2021 , recognised the proposal submitted by the Moon Village Association and several other groups within the organisation .
• On July 20 , 1969 , US astronauts Neil Armstrong and Buzz Aldrin became the first humans to reach the lunar planet .

India and Republic of Namibia:

• India and Government of the Republic of Namibia have entered into an MoU ) on wildlife conservation and sustainable biodiversity utilization .They will establish cheetah into the historical range in India .
• The main thrust areas of the MoU include technological applications , mechanisms of livelihood generation for local communities living in wildlife habitats , etc.

Ranil Wickremesinghe:

• Acting President Ranil Wickremesinghe has won the presidential election held in the Sri Lankan Parliament with 134 votes . Dullas Allahaperuma received 82 votes and Anura K Dissanayake received three votes .
• Wickremesinghe , a six – time prime minister , became acting president after Rajapaksa fled to the Maldives . He has been elected as the eighth executive president of Sri Lanka .

Viva Engage:

• Microsoft is introducing Viva Engage , a new app in Teams that helps build community and connection , along with providing tools for personal expression . On this app , leaders can share news and insights , answer questions , and facilitate two – way conversations .
• With Storyline and Stories features , employees can connect with co – workers , and share their thoughts , expertise , passions , and ideas .

International Chess Day : 20 July:

• Every year , July 20 is celebrated as International Chess Day to honor the establishment of International Chess Federation ( FIDE ) in 1924 .The idea to celebrate the day was proposed by UNESCO & since 1966 , the day has been celebrated every year .
• FIDE , which has 181 chess federations as its members , organizes chess events around the world on this day . FIDE Headquarters : Lausanne , Switzerland.

Singapore – based DBS bank:

• Singapore – based DBS bank has been recognised as the ‘ World’s Best SME Bank ‘ by Euromoney . DBS has been honoured with this title for the second time since 2018 .
• Since the start of the pandemic in 2020 , DBS has applied emerging technologies to help small – to – medium enterprises ( SMEs ) manage their credit risk . Euromoney is a leading UK – based financial publication . DBS Bank CEO : Piyush Gupta.

SCO:

• The Shanghai Cooperation Organisation ( SCO ) will admit Iran as its 9th member at the upcoming summit in Samarkand , Uzbekistan in September 2022 . This summit will be held under the Presidency of Uzbekistan .
• This is the first expansion of the SCO after India and Pakistan were admitted to the grouping in 2017 . Belarus has also applied for SCO membership .SCO Headquarters – Beijing , China.

Sports Events:

2028 Summer Olympic Games:

• The organisers of the Los Angeles 2028 Summer Olympic Games have announced that the opening ceremony for the mega event will take place on July 14 , 2028 . The Games will be running through July 30 , 2028 .
• The LA28 , which is the Organising Committee for the Olympic and Paralympic Games 2028 revealed that Paralympic Games will begin on August 15 , 2028 , and close on August 27 .