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19th May Daily Current Affairs 2022: Today GK Updates for Bank Exam

Daily GK updates are incorporated with the important news that made the current affairs headlines for banking or other competitive exams. Daily GK Update is the complete bag of the important news that is held all day long. One should have complete knowledge about banking terms, current affairs news, etc. So, here is the GK update for 19th May 2022 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

Here is the Daily GK Update of the 19th May 2022 covering the following news headlines: Cotton Council of India, NIELIT Center, Bharti Airtel, Patanjali Food Business, British Empire award, World AIDS Vaccine Day.

Top 15 Daily GK Updates: National & International News 

Here is providing below the top 15 important Daily General Knowledge 2022 updates with national & international news.

National News

1. Centre announces formation of Cotton Council of India 

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  • The Union Government has announced the formation of the Cotton Council of India under the Chairmanship of renowned veteran cotton man Suresh Bhai Kotak.
  • The Council will have representation from Textiles, Agriculture, Commerce, and Finance Ministries along with Cotton Corporation of India and Cotton Research Institute. Mr Goyal also appealed to the spinning and trading community to ensure a hassle-free supply of cotton and yarn first to the domestic industry.
  • The government is committed to protecting the interests of cotton farmers, spinners, and weavers, the Minister assured to actively consider the demand of the spinning sector for exemption from import duty on those import contracts in which bills of loading are issued up to September 30, 2022, to overcome the current cotton shortage and logistic issues.

2. Ashwini Vaishnaw Opened NIELIT Center in Leh, Ladakh 

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  • Union Cabinet Minister of Electronics & Information Technology, Communications and Railways, Ashwini Vaishnaw has inaugurated the National Institute of Electronics and Information Technology (NIELIT) Centre Leh, Extension Centre Kargil and IT Enabled Incubation Centre for Handicraft and Handloom Sector.
  • Union Minister, Sh. Ashwini Vaishnaw, while inaugurating the NIELIT Centres at Leh, Kargil and Incubation Centre at Leh, reiterated the commitment of the Hon’ble Prime Minister for the development of UT of Ladakh.

3. Supreme Court has ordered the release of Rajiv Gandhi’s assassination suspect

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  • The Supreme Court used Article 142 of the Constitution to grant AG Perarivalan, a convict in the assassination of former Prime Minister Rajiv Gandhi, extraordinary powers to “do complete justice in any cause or matter pending before it.”
  • Perarivalan was released free by a bench of justices led by L.N. Rao and B.R. Gavai, who took into account his lengthy incarceration. Perarivalan spent 29 of his 32 years in prison in solitary confinement until being granted bail by the Supreme Court in March 2022.
  • He spent 16 years on execution row before the court remitted his sentence to life imprisonment in 2014. The court further noted that Perarivalan had filed his clemency plea under Article 161 with the Tamil Nadu Governor in 2015, and that the state cabinet had instructed the state’s chief executive to accept it in September 2018.

International News

4. After Pakistan shot SAARC in 2016, India will go bilateral 

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  • The future of SAARC seems bleak, with Sri Lanka, Pakistan, and Nepal in economic limbo, and Afghanistan under Islamist Taliban control. This leaves India with little choice but to engage in bilateral engagement with its neighbours in order to protect its national security.
  • Ironically, the Taliban in Afghanistan are currently embroiled in a simmering war with their tutor, the Pakistan Army, which refuses to recognise the Durand Line, which splits the Pashtun tribe between the two countries.
  • Pakistan Prime Minister Shahbaz Sharif is confronting a full-blown economic crisis and does not have a magic wand to miraculously address the country’s various problems, despite the fact that Imran Khan Niazi has been booted out of office, putting a stop to the political upheaval.
  • Afghanistan is ruled by a hardline Islamist Taliban administration eight years after the last summit, with a total budget of $2.6 billion for the current fiscal year.
  • The country is on the verge of famine and disease as the ISI-backed Haqqani Network, led by global terrorist Sirajuddin Haqqani, battles the Kandahar Taliban, led by Mullah Omar’s son Yaqub, for control of Kabul.
  • The country is on life support, with its primary international exports being terrorism and narcotics.

Appointments News

5. Bharti Airtel re-appoints Gopal Vittal as MD and CEO for 5 years

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  • Bharti Airtel board has reappointed Gopal Vittal as Managing Director & CEO for a further period of five years ending on January 31, 2028.
  • The reappointment came on a day the telco posted a consolidated net profit at Rs 2,007.8 crore in the March quarter, up 141% sequentially and 164% on the year.
  • Analysts had an estimated net profit of around Rs 1,970 crore. This was Airtel’s sixth successive quarter in the black after six straight losses earlier.
  • For the India business, its revenue growth stood at 23 per cent during the fourth quarter, while mobile revenues rose 21 per cent on the back of an increase in Average Revenue Per User ARPU led by healthy flow-through of tariff revision and strong 4G customer additions during the year.

Important takeaways for all competitive exams:

  • Bharti Airtel Founder: Sunil Bharti Mittal;
  • Bharti Airtel Founded: 7 July 1995, India.

6. BSE named Ex RBI Deputy Governor SS Mundra as Chairman

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  • Leading stock exchange BSE Limited announced that it has approved the appointment of SS Mundra, Public Interest Director as the Chairman of the board of directors of the company.
  • Mundra will replace Justice Vikramajit Sen who is the current chairman. Mundra was appointed as Public Interest Director at BSE in January 2018. He retired as Deputy Governor of the Reserve Bank of India on 30th July 2017.
  • Prior to that, the last position held by him was as Chairman and Managing Director of Bank of Baroda from where he superannuated in July 2014. However, the appointment is subject to approval by market regulator SEBI. The experience gained in guiding these entities has bestowed him with wide leadership skills and keen insights in best practices in Corporate Governance.

Business News

7. Patanjali Food Business will be acquired by Ruchi Soya for Rs. 690 crore

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  • Ruchi Soya, an edible oil company, has announced that it will buy Patanjali Ayurved’s food division for Rs 690 crore. Ruchi Soya’s transition to the fast-moving consumer goods (FMCG) category is likely to be accelerated as a result of this.
  • After regulatory permissions, the name of Ruchi Soya Industries Ltd would be changed to Patanjali Foods Ltd. Ghee, honey, spices, juices, and wheat are among the 21 products in the acquired food industry. Ruchi Soya is India’s largest producer of edible oil. Patanjali Ayurved purchased it in 2019.
  • According to a survey issued by Deloitte Touche Tohmatsu, Ruchi Soya was rated 175 among the top 250 consumer products businesses in the Global Powers of the Consumer Products Industry 2012.

Economy News

8. S&P Cuts India’s Economic Growth Forecast To 7.3% For 2022-23 

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  • S&P Global Ratings cut India’s growth projection for the current fiscal to 7.3 per cent from 7.8 per cent earlier on rising inflation and the longer-than-expected Russia-Ukraine conflict.
  • S&P had in December last year pegged India’s GDP growth in 2022-23 fiscal, which began on April 1, 2022, at 7.8 per cent. For the next fiscal the growth has been pegged at 6.5 per cent.
  • In the aftermath of the Russia-Ukraine war and rising commodity prices, various global agencies have cut India’s growth forecast recently.
  • The World Bank in April slashed India’s GDP forecast for fiscal 2022-23 to 8 per cent from 8.7 per cent predicted earlier, while IMF has cut the projections to 8.2 per cent from 9 per cent.
  • Asian Development Bank (ADB) has projected India’s growth at 7.5 per cent, while the RBI, last month, cut its forecast to 7.2 per cent from 7.8 per cent amid volatile crude oil prices and supply chain disruptions due to the ongoing Russia-Ukraine war.

Defence News

9. Rajnath Singh launches India-made warships, INS Surat and INS Udaygiri 

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  • Defence minister Rajnath Singh has launched two made-in-India warships INS ‘Surat’ and ‘Udaygiri’ at the Mazagon Docks in Mumbai.
  • This is the first time that the two indigenously built warships have been launched together, the Mazgaon Dock Shipbuilders Ltd (MDL). Both warships have been designed in-house by the Directorate of Naval Design (DND) and built at MDL, Mumbai.
  • Indian Naval Ship (INS) Surat is the fourth destroyer in Project 15B which is named after the second-largest commercial hub of western India.
  • Indian Naval Ship (INS) Udaygiri, named after a mountain range in Andhra Pradesh, is the third ship of Project 17A Frigates. It is a follow to the P17 Frigates (Shivalik Class) with improved stealth features, advanced weapons and sensors and platform management systems.

Schemes News

10. Panel of PM’s Office recommends urban job guarantee scheme

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  • The Economic Advisory Council to the Prime Minister (EAC-PM) has recommended that the government implement a guaranteed employment programme for the unemployed in cities and implement a universal basic income (UBI) scheme to eliminate income gaps.
  • Citing the country’s uneven income distribution, the report also advocated raising the minimum wage and increasing government investment on the social sector to make vulnerable groups more resilient to shocks and prevent them from falling into poverty.
  • According to the report that is titled, “The State of Inequality in India”, given the disparity in labour force participation rates between rural and urban areas, the urban equivalent of demand-based and guaranteed employment programmes such as MGNREGS should be implemented so that surplus labour can be rehabilitated.

Awards News

11. Ajay Piramal receives Order of the British Empire award

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  • Chairman of the Piramal Group, Ajay Piramal has received an honorary Commander of the Order of the British Empire (CBE) by Her Majesty The Queen. He received the award for services to the UK-India trade relationship as India Co-Chair of the UK-India CEO Forum.
  • As co-chair of the India-UK CEO forum since 2016, the endeavour has been to help strengthen the strong bilateral relations between the two countries through greater economic cooperation.
  • A prominent national role of a lesser degree, a conspicuous leading role in regional affairs through achievement or service to the community, or a highly distinguished, innovative contribution in his or her area of activity. The award was Instituted in 1917 by King George V.

Books and Authors

12. HarperCollins India to publish Preeti Shenoy new novel, ‘A Place Called Home’

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  • Bestselling author Preeti Shenoy is set to publish a new novel titled “A Place Called Home”, a story set in a coffee estate in Sakleshpur, Karnataka with a strong female protagonist at its core.
  • The new novel is about secrets, family, and finding yourself. The book published by HarperCollins Publishers India is set to be released in June 2022.
  • Preeti Shenoy has authored around 15 novels which include, The Magic Mindset, When Love Came Calling, Wake Up Life is Calling, Life is What You Make it, The Rule Breakers, and A Hundred Little Flames. Her works have also been translated into many Indian languages and also into Turkish.

13. Union Minister Jitendra Singh Released E-book Civil List-2022 of IAS officers

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  • Jitendra Singh, Union Minister of State(MoS), Ministry of Personnel, Public Grievances & Pensions released the e-book ‘Civil List – 2022 of IAS officers’ at North Block, Secretariat Building, New Delhi.
  • This is an effort by the Department of Personnel & Training (DoPT) as a part of the Digital India initiative of the Government of India. This is the 67th edition of the Civil List and the 2nd edition of the e-book in pdf with unique search facilities and hyperlinking of contents for ease of access of information.
  • This will support in selecting the right officer for the right assignment based on the available profile. This is also a vital source of information on the officers manning various posts for the general public.

Important Days

14. World AIDS Vaccine Day Or HIV Vaccine Awareness Day 2022

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  • World AIDS Vaccine Day is also known as HIV Vaccine Awareness Day (HVAD) is annually observed across the globe on the 18th of May to create awareness and provide information about Acquired Immuno Deficiency Syndrome (AIDS), a chronic, potentially life-threatening condition caused by the Human Immunodeficiency Virus (HIV) and its immunisation.
  • World AIDS Vaccine Day was conceptualised by the speech of former United States President Bill Clinton on 18th May 1997, at the Morgan State University, Maryland, the United States of America(USA). The first-ever World AIDS Vaccine Day or HIV Vaccine Awareness Day was observed on 18th May 1998, as a commemoration of U.S. President Bill Clinton’s 1997 declaration.

Miscellaneous News

15. WCR develops battery-operated dual-mode locomotive ‘Navdoot’

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  • West Central Railway has developed a battery-operated dual-mode locomotive named Navdoot. This engine runs on both modes i.e. battery and electricity. Currently, it is being used during the shunting of trains at Jabalpur, Mudwara, and other stations on a trial basis.
  • This Dual Mode Locomotive has also received the Best Innovation Award from the Railway Board. Railways will save 1000 litres of diesel every day with this new locomotive. After clearing all the trials, it will be used more widely.

About ‘Navdoot’

  •  This engine runs on both modes i.e. battery and electricity.
  •  This e-engine can pull 18 coaches at a speed of 30 kmph.
  •  It has 84 batteries and has a capacity to pull 400 tonnes at present.
  •  This has been developed by the Electric Department of New Katni Junction.
  • After clearing all the trials, it will be used more widely in other stations for purposes like carrying goods, coal, oil tankers etc.

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