Daily GK Update: 14th May 2022

National & International Appointments

In pursuance of Article 324 of the Constitution, the President has been appointed Rajiv Kumar, as the next Chief Election Commissioner (CEC) from May 15.
He will replace CEC Sushil Chandra, who is due to retire.
Rajiv Kumar took charge as the Election Commissioner of the Election Commission of India (ECI) on September 1, 2020.
He had been the chairman of the Public Enterprises Selection Board. He joined as the PESB chairman in April 2020.

National & International Organizations

India has topped the foreign remittance list by receiving USD 89 billion followed by Mexico at USD 54 billion, and China at USD 53 billion in 2021.
The officially recorded remittance flows to low- and middle-income countries (LMICs) are expected to increase by 4.2% in 2022 to reach USD 630 billion.
Bangladesh was the 7th highest recipient of remittance from abroad in 2021.
Report: Migration and development brief

Obituaries

The United Arab Emirates President Sheikh Khalifa bin Zayed Al-Nahyan died aged 73 after battling illness for several years.
He took over as the UAE's second president in November 2004 after his father as the 16th ruler of Abu Dhabi.
He also rescued Dubai when it was hit by the global financial crisis in 2009.
The UAE ministry has announced 40 days of mourning, with flags and work suspended in the public and private sectors for the first three days.

Banking & Finance

Union Bank of India (UBI) has launched a digital solution named ‘Trade nxt’ to enable corporates as well as MSMEs to transact all cross-border export-import transactions.
This online platform offers absolute entry and processing of letters of credit (LoC), bank guarantees, export and import bills, disbursement of export credit, outward & inward remittances, dealer financing, and much more.
Managing Director & CEO of Union Bank of India: Rajkiran Rai G

Summits & Conferences

Bhupender Yadav (Environment Forest and Climate Change Minister) has led an Indian delegation at the 15th session of the Conference of the Parties (COP-15) of the UNCCD at Abidjan in Cote d’Ivoire.
The theme of COP 15: Life. Legacy: From scarcity to prosperity.
Aim: To bring together world leaders to drive progress in the future sustainable management of land and will explore links between land and other key sustainability issues.

Science & Technology

The Indian Space Research Organisation (ISRO) has successfully test of the human-rated solid rocket booster (HS200) for Gaganyaan at the Satish Dhawan Space Centre in Sriharikota, Andhra Pradesh.
HS200 is part of the Geosynchronous Satellite Launch Vehicle MkIII (GSLV Mk III) rocket that will carry Indian astronauts to space.
Stages of GSLV MK III: The first stage is powered by solid fuel, the second by liquid fuel and the third by liquid hydrogen and liquid oxygen.

State Affairs

The Chhattisgarh government has issued a notification to restore the old pension scheme effective from April 1, 2022.
Also, the 10% deduction for monthly contribution from the salary of government employees as a contribution to the new pension scheme will be abolished from April 1, 2022.
However, a minimum of 12% of the basic salary will be deducted as per the General Provident Fund rule.
Chhattisgarh CM: Bhupesh Baghel; Capital: Raipur; Governor: Anusuiya Uikey

Banking & Finance

Export-Import Bank of India (Exim Bank) will extend its financial support of USD 190 million to the SBM (Mauritius) Infrastructure Development Company Ltd (SBMIDCL).
Projects: Metro Express Project and other infrastructure projects in Mauritius
The credit facility is an additional tranche to the existing Credit of USD 500 million which has been extended to SBMIDCL on the terms and conditions contained in the Dollar Credit Line Agreement dated May 27, 2017.

National & International Organizations

India has contributed USD 800,000 to the United Nations to promote the Hindi language in the United Nations.
India's Deputy Permanent Representative to the United Nations, R Ravindra handed over a cheque for the UN project (Hindi @ UN project) launched by India in 2018 to disseminate information about the UN to the Hindi-speaking population across the world.
World Hindi Day: 10 January
National Hindi Day: 14 September

National Affairs

Ashwini Vaishnaw (Union Minister for Communications, Electronics & IT and Railways) has launched the “GatiShakti Sanchar” portal (www.sugamsanchar.gov.in) for Centralised Right of Way (RoW) approvals in line with the PM GatiShakti National Master Plan.
The portal has been developed keeping in view the vision areas of the National Broadband Mission (NBM).
NBM was set up by the Department of Telecommunication in 2019.

Honours & Awards

Chief Minister of West Bengal, Mamata Banerjee has been awarded the Bangla Academy Award for her “relentless literary pursuit”.
Mamata Banerjee’s ‘Kabita Bitan’ was launched at the 2020 Kolkata Book Fair.
The book contains 946 poems written by the TMC supremo.
Mamta Banerjee was given the award at the “Ravi Pranam” function organised by the government’s information and culture department on the occasion of Rabindranath Tagore’s birth anniversary.

Banking & Finance

Morgan Stanley has estimated India’s growth forecast for FY23 to 7.6% from 7.9%; the reason is the slowdown in global growth, higher commodity prices and risk aversion in global capital markets expose Asia’s third-largest economy to downside risks.
Earlier, the Reserve Bank of India (RBI) has also revised downwards its growth projection for FY23 to 7.2% from 7.8%.
The World Bank also slashed its FY23 growth forecast for India to 8%.