Daily Current Affairs- 6 September

Author : Palak Khanna

Updated On : September 6, 2022

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Today's Current Affairs-6th September 2022

INTERNATIONAL

Liz Truss To Be UK's 3rd Woman Prime Minister

  • Liz Truss: Mary Elizabeth Truss, a British politician who was born on July 26, 1975, is now the leader of the Conservative Party and is slated to become prime minister of the UK on September 6, 2022.
  • Since 2021, she has held the positions of Minister for Women and Equalities and Secretary of State for Foreign, Commonwealth, and Development Affairs.
  • Liz Truss is a Conservative Party member and has served as the South West Norfolk MP since 2010.
  • Under Prime Ministers Theresa May, Boris Johnson, and David Cameron, she held a number of Cabinet positions.
  • Liz Truss won the South West Norfolk district in the general election of 2010.
  • Liz Truss prior to being named by Cameron to the Cabinet as Secretary of State for the Environment, Food, and Rural Affairs during the 2014 cabinet reshuffle, Truss served as Parliamentary Under-Secretary of State for Childcare and Education from 2012 to 2014.
  • In December 2021, she was named the government’s principal negotiator with the EU and UK chair of the EU-UK Partnership Council.
  • Johnson resigned, and Truss was elected leader of the Conservative Party in 2022.

About United Kingdom:

Prime minister: Boris Johnson 

Capital: London

Currency: Pound sterling

 NATIONAL

Rajpath set to be renamed Kartavya Path : GOI

  • The government of India has announced to change the name of Rajpath and Central Vista lawns into Kartavya Path. The decision is said to shed remnants of the British colony in India. The decision came after a special meeting on September 7, convened with the aim of renaming the Rajpath and Central Vista lawns. Earlier, the Modi government had changed the name of the road on which the Prime Minister’s residence is, from Race Course Road to Lok Kalyan Marg.
  • Kartavya Path includes the entire avenue and area from the Netaji Statue to the Rashtrapati Bhavan. The route runs from Rashtrapati Bhavan on Raisina Hill through Vijay Chowk and India Gate to National Stadium in Delhi. The decision comes after Prime Minister Narendra Modi’s address to the nation on independence day where he stressed the factors leading to the abolition of symbols and signs relating to the colonial mindset.
  • The Central Vista redevelopment project includes a new triangular Parliament building, a common Central Secretariat, rejuvenation of the three-kilometre Rajpath, new Prime Minister’s residence and offices and a new Vice President’s Enclave.

About Government of India (GOI):

Ministries: 57

Founded: 26 January 1950

Founder: Constitution of India

Responsible to: Lok Sabha

Legislature: Parliament

Seat: Raisina Hill (Official Seat of the Government of India)

Indian Army Chief Manoj Pande Conferred Honorary Rank Of Nepal Army General

  • Indian Army chief General Manoj Pande was conferred the title of Honorary General of the Nepali Army by Nepal President Bidya Devi Bhandari in Kathmandu. General Pande was honoured at a special ceremony at the President’s official residence ‘Shital Niwas’ in the capital city of Nepal. He has also presented a sword and scroll during the function.
  • On behalf of the Indian government, General Manoj Pande presented training equipment to Nepali Army, along with Light Vehicles which would augment the capabilities of Nepali Army personnel.
  • The practice follows a seven-decade-old tradition of decorating army chiefs of each other’s countries with the honorary title. Commander-in-Chief General KM Cariappa was the first Indian Army chief to be decorated with the title in 1950. In November last year, the Chief of the Nepali Army, General Prabhu Ram Sharma was also made the Honorary General of the Indian Army by President Ram Nath Kovind at a ceremony in New Delhi.

About Indian Army :

Motto(s): सेवा परमो धर्म: (Sanskrit); Sēvā Paramō Dharma: (ISO); transl. "Service Before Self"

Headquarters: Integrated Defence Headquarters, Ministry of Defence, New Delhi

Founded: 1 April 1895, India

Commander-in-Chief: President Draupadi Murmu

Notable commanders: Field Marshal K. M. Cariappa, OBE; Field Marshal Sam Manekshaw, MC; General K. S. Thimayya, DSO

About Nepal:

Capital: Kathmandu

Currency: Nepalese rupee

President: Bidhya Devi Bhandari

Prime Minister: Sher Bahadur Deuba

 SCIENCE & TECHNOLOGY

HAL-L&T consortium bags Rs 860-crore Isro contract for five PSLVs

  • 5 PSLV rockets to be built by HAL-L&T: The Hindustan Aeronautics Limited, HAL-L&T consortium, making the industry’s first entrance into end-to-end production of polar satellite launch vehicles, has secured a Rs 860 crore contract from NewSpace India Limited to produce five rockets (PSLV rockets). The HAL-L&T cooperation won the right to produce PSLV from beginning to end after three bids were subjected to a techno-commercial examination.
  • The PSLV, India’s third-generation launch vehicle, gets its mechanical systems and 60% of its electronic systems from the industry. The remaining percentages in both sectors are extremely complicated, though.
  • The government had approved raising NSIL’s authorised share capital from Rs 1,000 billion to Rs 7,500 billion.

About Hindustan Aeronautics Limited  (HAL):

Headquarters: Bengaluru

Founded: 1963, Bengaluru

Founder: Walchand Hirachand

About Larsen & Toubro (L&T):

CEO: S N Subrahmanyan (Jul 2017–)

Headquarters: Mumbai

Founded: 7 February 1946, Mumbai

Founders: Henning Holck-Larsen, Søren Kristian Toubro

ISRO successfully demonstrates IAD technology, rockets can now land back on earth; Third country to achieve feat

  • IAD technology successfully used by ISRO: The Inflatable Aerodynamic Decelerator (IAD), which ISRO says is a game-changer with numerous implications for future missions including to Mars and Venus, was successfully tested. Vikram Sarabhai Space Centre (VSSC), an ISRO division, successfully test-flew an IAD from Thumba Equatorial Rocket Launching Station on a “Rohini” sounding rocket (TERLS).
  • Scientists from India and beyond, as well as ISRO, frequently employ Rohini sounding rockets to fly demonstrations of new technologies.
  • Along with the IAD, new components including a micro video imaging system that recorded the IAD’s bloom and flight, a small software defined radio telemetry transmitter, a MEMS (Micro-electromechanical systems)-based acoustic sensor, and a variety of new methodologies were all successfully flight tested.
  • The IAD was first folded and stowed in the rocket’s cargo bay, according to the Indian Space Research Organisation, which has its headquarters in Bengaluru (ISRO).

About Indian Space Research Organisation (ISRO):

Headquarters: Bengaluru

Founded: 15 August 1969

Founder: Vikram Sarabhai

 APPOINTMENTS & RESIGNATIONS

Justice Chandrachud is new chairperson of NALSA

  • Supreme Court judge Justice DY Chandrachud has been appointed as the next executive chairperson of the National Legal Services Authority (NALSA). The post was previously held by the Chief Justice of India UU Lalit. President Droupadi Murmu has appointed Justice D.Y. Chandrachud as the executive chairman of the NALSA. Before being elevated as a judge of the Supreme Court, Justice Chandrachud served as the Chief Justice of the Allahabad High Court and prior to that a judge of the Bombay High Court.
  • The NALSA has been constituted under the Legal Services Authorities Act, 1987 to provide free Legal Services to the weaker sections of the society.
  • Its purpose is to provide free legal services to eligible candidates, and to organize Lok Adalats for the speedy resolution of cases.
  • While the CJI is the Patron-in-Chief, the second senior most judge of the Supreme Court of India is the executive chairperson of the Authority.

About National Legal Services Authority (NALSA):

Founded: 9 November 1995

Headquarters location: New Delhi

Motto: Access to Justice for All

 RANKING

UIDAI tops Grievance Redressal Index in August 2022

  • Unique Identification Authority of India (UIDAI) has topped among all Ministries/Departments for resolving Public Grievances in the ranking. The report was published by the Department of Administrative Reforms and Public Grievances (DARPG). In a statement released by the Ministry of Electronics and IT, it is stated that UIDAI is further committed in serving the people of India and has been a catalyst for both ease of living and business.
  • UIDAI has been a top performer in the resolution of cases received through the Centralized Public Grievance Redress and Monitoring System (CPGRAMS).
  • UIDAI is further committed to serving residents of India and has been a catalyst for both ease of living and ease of doing business.
  • UIDAI has a robust grievance redressal mechanism in place comprising of UIDAI HQ Divisions, Regional Offices, Technology Centre and engaged Contact Centre partners, which is enabling UIDAI to resolve around 92% of CRM Grievances within 7 days.

About UIDAI:

Founded: 28 January 2009;

Headquarters: New Delhi.

 BANKING AND ECONOMY

India’s external debt rises by 8.2 pc to over USD 620 bn till March 2022

  • The External Debt Management Unit (EDMU) in the Department of economic Affairs, Ministry of Finance, has released 28th edition of the Status Report on India’s External Debt 2021-22. India’s external debt, at US$ 620.7 billion as at end-March 2022, grew by 8.2 per cent over US$ 573.7 billon as at end-March 2021. While 53.2 per cent of it was denominated in US dollar, Indian rupee denominated debt, estimated at 31.2 per cent, was the second largest. External debt as a ratio to GDP fell marginally to 19.9 per cent as at end-March 2022 from 21.2 per cent a year ago. Foreign currency reserves as a ratio to external debt stood slightly lower at 97.8 per cent as at end-March 2022 than 100.6 per cent a year ago.

Services sector activity up in August on gains in new business, jobs creation

  • India’s dominant services industry grew faster than expected in August amid favourable demand conditions and some easing in cost pressures. The S&P Global India Services Purchasing Managers’ Index or PMI index rose to 57.2 in August from four-month low of 55.5 in July, surpassing the 55.0 estimate in a Reuters poll. It remained above the 50-mark separating growth from contraction for a 13th straight month. The survey showed that a stronger expansion in new business encouraged firms to hire at the quickest pace in more than 14 years.
  • “Indian services activity rose strongly midway through the second fiscal quarter, with the pace of expansion recovering some of the ground lost in July.
  • “While the rate of charge inflation was broadly similar to July, there was a considerably softer upturn in input costs.
  • Among the sectors, “finance and insurance was the brightest area of the service economy in August, leading with regards to growth of sales and output,” the economist said.
  • The survey also showed that services companies expect output growth over the coming 12 months, with sentiment rising to its highest level in over four years.

About S&P Global Corporation:

Headquarters: New York, United States

CEO: Douglas L. Peterson (1 Nov 2013)

Founder: James H. McGraw

Founded: 1917  New York, United States

Formerly: McGraw–Hill, Inc. (1964–1995); The McGraw–Hill Companies, Inc. (1995–2013); McGraw Hill Financial, Inc. (2013–2016)

CCI clears PayU's $4.7 billion acquisition of BillDesk

  • The Competition Commission of India (CCI) approved the acquisition of 100 percent equity of Indiaideas.com (Billdesk) by PayU Payments. The proposed combination relates to the acquisition of 100 percent of the equity share capital of India Ideas Ltd (IIL) by PayU India. Prosus NV-backed PayU announced in August 2021, that it will buy digital payments provider Billdesk for USD 4.7 billion.
  • It will make it one of the biggest deals in the Indian consumer internet space. The proposed combination pertains to the acquisition of an additional 10 percent stake in Apraava by CDPQ from CPL CPEC Holding Limited.
  • PayU India provides payment aggregation services & CPDQ Infrastructure Asia II is a wholly owned subsidiary of CDPQ a global investor.
  • Apraava Energy is foreign investment in the Indian power sector with the investment spread across renewable and non-renewable energy.

About Competition Commission of India (CCI):

Founded: 14 October 2003

Jurisdiction: India

Headquarters: New Delhi

First executive: Dhanendra Kumar

Agency executive: Ashok Kumar Gupta (Chairperson)

About BillDesk:

Founded: 2000

Headquarters: Mumbai

Owner: BillDesk

Founders: M.N. Srinivasu, Ajay Kaushal, Karthik Ganapathy

Daily Current Affairs- 6 September

Author : Palak Khanna

September 6, 2022

SHARE

Today's Current Affairs-6th September 2022

INTERNATIONAL

Liz Truss To Be UK's 3rd Woman Prime Minister

  • Liz Truss: Mary Elizabeth Truss, a British politician who was born on July 26, 1975, is now the leader of the Conservative Party and is slated to become prime minister of the UK on September 6, 2022.
  • Since 2021, she has held the positions of Minister for Women and Equalities and Secretary of State for Foreign, Commonwealth, and Development Affairs.
  • Liz Truss is a Conservative Party member and has served as the South West Norfolk MP since 2010.
  • Under Prime Ministers Theresa May, Boris Johnson, and David Cameron, she held a number of Cabinet positions.
  • Liz Truss won the South West Norfolk district in the general election of 2010.
  • Liz Truss prior to being named by Cameron to the Cabinet as Secretary of State for the Environment, Food, and Rural Affairs during the 2014 cabinet reshuffle, Truss served as Parliamentary Under-Secretary of State for Childcare and Education from 2012 to 2014.
  • In December 2021, she was named the government’s principal negotiator with the EU and UK chair of the EU-UK Partnership Council.
  • Johnson resigned, and Truss was elected leader of the Conservative Party in 2022.

About United Kingdom:

Prime minister: Boris Johnson 

Capital: London

Currency: Pound sterling

 NATIONAL

Rajpath set to be renamed Kartavya Path : GOI

  • The government of India has announced to change the name of Rajpath and Central Vista lawns into Kartavya Path. The decision is said to shed remnants of the British colony in India. The decision came after a special meeting on September 7, convened with the aim of renaming the Rajpath and Central Vista lawns. Earlier, the Modi government had changed the name of the road on which the Prime Minister’s residence is, from Race Course Road to Lok Kalyan Marg.
  • Kartavya Path includes the entire avenue and area from the Netaji Statue to the Rashtrapati Bhavan. The route runs from Rashtrapati Bhavan on Raisina Hill through Vijay Chowk and India Gate to National Stadium in Delhi. The decision comes after Prime Minister Narendra Modi’s address to the nation on independence day where he stressed the factors leading to the abolition of symbols and signs relating to the colonial mindset.
  • The Central Vista redevelopment project includes a new triangular Parliament building, a common Central Secretariat, rejuvenation of the three-kilometre Rajpath, new Prime Minister’s residence and offices and a new Vice President’s Enclave.

About Government of India (GOI):

Ministries: 57

Founded: 26 January 1950

Founder: Constitution of India

Responsible to: Lok Sabha

Legislature: Parliament

Seat: Raisina Hill (Official Seat of the Government of India)

Indian Army Chief Manoj Pande Conferred Honorary Rank Of Nepal Army General

  • Indian Army chief General Manoj Pande was conferred the title of Honorary General of the Nepali Army by Nepal President Bidya Devi Bhandari in Kathmandu. General Pande was honoured at a special ceremony at the President’s official residence ‘Shital Niwas’ in the capital city of Nepal. He has also presented a sword and scroll during the function.
  • On behalf of the Indian government, General Manoj Pande presented training equipment to Nepali Army, along with Light Vehicles which would augment the capabilities of Nepali Army personnel.
  • The practice follows a seven-decade-old tradition of decorating army chiefs of each other’s countries with the honorary title. Commander-in-Chief General KM Cariappa was the first Indian Army chief to be decorated with the title in 1950. In November last year, the Chief of the Nepali Army, General Prabhu Ram Sharma was also made the Honorary General of the Indian Army by President Ram Nath Kovind at a ceremony in New Delhi.

About Indian Army :

Motto(s): सेवा परमो धर्म: (Sanskrit); Sēvā Paramō Dharma: (ISO); transl. "Service Before Self"

Headquarters: Integrated Defence Headquarters, Ministry of Defence, New Delhi

Founded: 1 April 1895, India

Commander-in-Chief: President Draupadi Murmu

Notable commanders: Field Marshal K. M. Cariappa, OBE; Field Marshal Sam Manekshaw, MC; General K. S. Thimayya, DSO

About Nepal:

Capital: Kathmandu

Currency: Nepalese rupee

President: Bidhya Devi Bhandari

Prime Minister: Sher Bahadur Deuba

 SCIENCE & TECHNOLOGY

HAL-L&T consortium bags Rs 860-crore Isro contract for five PSLVs

  • 5 PSLV rockets to be built by HAL-L&T: The Hindustan Aeronautics Limited, HAL-L&T consortium, making the industry’s first entrance into end-to-end production of polar satellite launch vehicles, has secured a Rs 860 crore contract from NewSpace India Limited to produce five rockets (PSLV rockets). The HAL-L&T cooperation won the right to produce PSLV from beginning to end after three bids were subjected to a techno-commercial examination.
  • The PSLV, India’s third-generation launch vehicle, gets its mechanical systems and 60% of its electronic systems from the industry. The remaining percentages in both sectors are extremely complicated, though.
  • The government had approved raising NSIL’s authorised share capital from Rs 1,000 billion to Rs 7,500 billion.

About Hindustan Aeronautics Limited  (HAL):

Headquarters: Bengaluru

Founded: 1963, Bengaluru

Founder: Walchand Hirachand

About Larsen & Toubro (L&T):

CEO: S N Subrahmanyan (Jul 2017–)

Headquarters: Mumbai

Founded: 7 February 1946, Mumbai

Founders: Henning Holck-Larsen, Søren Kristian Toubro

ISRO successfully demonstrates IAD technology, rockets can now land back on earth; Third country to achieve feat

  • IAD technology successfully used by ISRO: The Inflatable Aerodynamic Decelerator (IAD), which ISRO says is a game-changer with numerous implications for future missions including to Mars and Venus, was successfully tested. Vikram Sarabhai Space Centre (VSSC), an ISRO division, successfully test-flew an IAD from Thumba Equatorial Rocket Launching Station on a “Rohini” sounding rocket (TERLS).
  • Scientists from India and beyond, as well as ISRO, frequently employ Rohini sounding rockets to fly demonstrations of new technologies.
  • Along with the IAD, new components including a micro video imaging system that recorded the IAD’s bloom and flight, a small software defined radio telemetry transmitter, a MEMS (Micro-electromechanical systems)-based acoustic sensor, and a variety of new methodologies were all successfully flight tested.
  • The IAD was first folded and stowed in the rocket’s cargo bay, according to the Indian Space Research Organisation, which has its headquarters in Bengaluru (ISRO).

About Indian Space Research Organisation (ISRO):

Headquarters: Bengaluru

Founded: 15 August 1969

Founder: Vikram Sarabhai

 APPOINTMENTS & RESIGNATIONS

Justice Chandrachud is new chairperson of NALSA

  • Supreme Court judge Justice DY Chandrachud has been appointed as the next executive chairperson of the National Legal Services Authority (NALSA). The post was previously held by the Chief Justice of India UU Lalit. President Droupadi Murmu has appointed Justice D.Y. Chandrachud as the executive chairman of the NALSA. Before being elevated as a judge of the Supreme Court, Justice Chandrachud served as the Chief Justice of the Allahabad High Court and prior to that a judge of the Bombay High Court.
  • The NALSA has been constituted under the Legal Services Authorities Act, 1987 to provide free Legal Services to the weaker sections of the society.
  • Its purpose is to provide free legal services to eligible candidates, and to organize Lok Adalats for the speedy resolution of cases.
  • While the CJI is the Patron-in-Chief, the second senior most judge of the Supreme Court of India is the executive chairperson of the Authority.

About National Legal Services Authority (NALSA):

Founded: 9 November 1995

Headquarters location: New Delhi

Motto: Access to Justice for All

 RANKING

UIDAI tops Grievance Redressal Index in August 2022

  • Unique Identification Authority of India (UIDAI) has topped among all Ministries/Departments for resolving Public Grievances in the ranking. The report was published by the Department of Administrative Reforms and Public Grievances (DARPG). In a statement released by the Ministry of Electronics and IT, it is stated that UIDAI is further committed in serving the people of India and has been a catalyst for both ease of living and business.
  • UIDAI has been a top performer in the resolution of cases received through the Centralized Public Grievance Redress and Monitoring System (CPGRAMS).
  • UIDAI is further committed to serving residents of India and has been a catalyst for both ease of living and ease of doing business.
  • UIDAI has a robust grievance redressal mechanism in place comprising of UIDAI HQ Divisions, Regional Offices, Technology Centre and engaged Contact Centre partners, which is enabling UIDAI to resolve around 92% of CRM Grievances within 7 days.

About UIDAI:

Founded: 28 January 2009;

Headquarters: New Delhi.

 BANKING AND ECONOMY

India’s external debt rises by 8.2 pc to over USD 620 bn till March 2022

  • The External Debt Management Unit (EDMU) in the Department of economic Affairs, Ministry of Finance, has released 28th edition of the Status Report on India’s External Debt 2021-22. India’s external debt, at US$ 620.7 billion as at end-March 2022, grew by 8.2 per cent over US$ 573.7 billon as at end-March 2021. While 53.2 per cent of it was denominated in US dollar, Indian rupee denominated debt, estimated at 31.2 per cent, was the second largest. External debt as a ratio to GDP fell marginally to 19.9 per cent as at end-March 2022 from 21.2 per cent a year ago. Foreign currency reserves as a ratio to external debt stood slightly lower at 97.8 per cent as at end-March 2022 than 100.6 per cent a year ago.

Services sector activity up in August on gains in new business, jobs creation

  • India’s dominant services industry grew faster than expected in August amid favourable demand conditions and some easing in cost pressures. The S&P Global India Services Purchasing Managers’ Index or PMI index rose to 57.2 in August from four-month low of 55.5 in July, surpassing the 55.0 estimate in a Reuters poll. It remained above the 50-mark separating growth from contraction for a 13th straight month. The survey showed that a stronger expansion in new business encouraged firms to hire at the quickest pace in more than 14 years.
  • “Indian services activity rose strongly midway through the second fiscal quarter, with the pace of expansion recovering some of the ground lost in July.
  • “While the rate of charge inflation was broadly similar to July, there was a considerably softer upturn in input costs.
  • Among the sectors, “finance and insurance was the brightest area of the service economy in August, leading with regards to growth of sales and output,” the economist said.
  • The survey also showed that services companies expect output growth over the coming 12 months, with sentiment rising to its highest level in over four years.

About S&P Global Corporation:

Headquarters: New York, United States

CEO: Douglas L. Peterson (1 Nov 2013)

Founder: James H. McGraw

Founded: 1917  New York, United States

Formerly: McGraw–Hill, Inc. (1964–1995); The McGraw–Hill Companies, Inc. (1995–2013); McGraw Hill Financial, Inc. (2013–2016)

CCI clears PayU's $4.7 billion acquisition of BillDesk

  • The Competition Commission of India (CCI) approved the acquisition of 100 percent equity of Indiaideas.com (Billdesk) by PayU Payments. The proposed combination relates to the acquisition of 100 percent of the equity share capital of India Ideas Ltd (IIL) by PayU India. Prosus NV-backed PayU announced in August 2021, that it will buy digital payments provider Billdesk for USD 4.7 billion.
  • It will make it one of the biggest deals in the Indian consumer internet space. The proposed combination pertains to the acquisition of an additional 10 percent stake in Apraava by CDPQ from CPL CPEC Holding Limited.
  • PayU India provides payment aggregation services & CPDQ Infrastructure Asia II is a wholly owned subsidiary of CDPQ a global investor.
  • Apraava Energy is foreign investment in the Indian power sector with the investment spread across renewable and non-renewable energy.

About Competition Commission of India (CCI):

Founded: 14 October 2003

Jurisdiction: India

Headquarters: New Delhi

First executive: Dhanendra Kumar

Agency executive: Ashok Kumar Gupta (Chairperson)

About BillDesk:

Founded: 2000

Headquarters: Mumbai

Owner: BillDesk

Founders: M.N. Srinivasu, Ajay Kaushal, Karthik Ganapathy

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