Current Affairs for BANK, IBPS Exams - 14 July 2022

::National::

National Emblem row: Original Ashok Stambha artist visited zoo for months

DinanathBhargava was one of the artists of the original Ashok Stambha. Amid the controversy, his family recalls that he was asked by Nanadalal Bose to visit a zoo to observe the expressions of a lion closely.
Amid the ongoing row over the design of the National Emblem atop the new Parliament building which allegedly does not look like the original one, the family members of DinanathBhargava, one of the original artists of the emblem said he kept visiting a zoo in Kolkata for three months to closely observe lions. DinanathBhargava was a co-artist on the team who as advised by his guru used to visit the zoo to closely observe lions and their expressions. Also Read: Artists say no distortion amid row over ‘aggressive’ emblem
DinanathBhargava died at the age of 89 in Indore in 2016. He was chosen in the team for the National Emblem by noted painter Nandalal Bose who was then the principal of Shantiniketan's Kala Bhavan. Bhargava, at that time, was in his early 20s, pursuing a 3-year diploma in fine arts there.
"India's first Prime Minister Jawaharlal Nehru had given the task of designing the Constitution's original manuscript to Ravindranath Tagore's Shantiniketan's Kala Bhavan principal and noted painter Nandalal Bose," DinanathBhargava's wife Prabha (85).
The National Emblem is at the centre of a fresh controversy as the opposition slammed the government for distorting the National Emblem. With bare fangs, the lion in the new representation looks aggressive with the teeth showing, the opposition parties have claimed after PM Modi unveiled the structure, weighing 9,500kg and measuring 6.5 metres in height.
Designers Sunil Deore and Romiel Moses said there has been no deviation in the design and the statue may appear different because it is a huge statue and photos are taken from below.
Union minister Hardeep Singh Puri has defended the look of the National Emblem and said the Sarnath lion could also be perceived as calm or angry if one looks the structure from below. “If an exact replica of the original were to be placed on the new building, it would barely be visible beyond the peripheral rail. The ‘experts’ should also know that the original placed in Sarnath is at ground level while the new emblem is at a height of 33 mtrs from ground," the minister said.

Printed Study Materials for IBPS, SBI Bank Exam

::International::

UN chief on Sri Lanka crisis: 'Important that protestors' grievances addressed'

As the crisis in Sri Lanka worsens, United Nations Secretary-General Antonio Guterres on Thursday said that he is following the situation in the island nation “very closely”. Urging all party leaders to “embrace the spirit of compromise for a peaceful and democratic transition", the UN chief said that the “root causes of the conflict” and “protestors’ grievances” must be addressed.
“I continue to follow the situation in Sri Lanka very closely. It is important that the root causes of the conflict and protestors’ grievances are addressed. I urge all party leaders to embrace the spirit of compromise for a peaceful and democratic transition,” the UN chief wrote on Twitter.
Over the past two weeks, the political turmoil in Sri Lanka has worsened the crisis. While angry protests continue across the island nation against GotabayaRajapaksa, the military and police forces are using tear gas shells to disperse the protesters. GotabayaRajapaksa's exit from the island nation has deepened tensions.
Rajapaksa announced news of his resignation after his presidential palace was breached by demonstrators. On the same day, PM RanilWickremesinghe’s house was set ablaze.
It was another day of chaos on Wednesday as Wickremesinghe’s office was targeted. In view of this, Wickremesinghe - who had also said last week that he would step down - on Wednesday declared a state of emergency. He is now the acting president, which has further riled up the demonstrators.
Meanwhile, according to speaker MahindaYapaAbeywardena, the president had repeatedly assured the speaker of parliament that he would step down on Wednesday, but his resignation letter had not arrived as of early Thursday.
The island nation - which has over $50 billion in debt - is now set to get a new president on July 20.

::Economy::

Startup nurture.farm partners with SBI General Insurance, Future Generali

Agri-tech startup nurture.farm announced its partnership with SBI General Insurance and Future Generali India Insurance Company to expand its insurance solutions for its 1.9 million farmers.
nurture.farm is an open digital platform for growers, farming communities and food systems.
The company had recently received a corporate agency licence from Insurance Regulatory and Development Authority (IRDA). This licence enables nurture.farm to help farmers access innovative insurance solutions at cost-effective price points.
"Insurance penetration in India is very low, especially in the rural hinterland. We want to develop smart insurance solutions for farmers to increase their financial resilience. We are elated to have partnered with trusted brands...," nurture.farm Business Head and COO DhruvSawhney said in a statement.
With these partnerships, the company aims to offer its insurance solutions to nearly 2 million farmers in 2022-23, it added.

Rupee hits record low for a third straight session; touches 79.66 vs dollar

The Indian rupee hit a record low for a third straight session as foreign investors continued to dump riskier assets ahead of U.S. inflation data that could determine the pace of tightening in the world's largest economy.
The partially convertible rupee was trading at 79.66/67 per dollar compared to its previous close of 79.5975. The unit touched a life low of 79.6675.
"There is a general risk-off sentiment. Until flows come back, we will see the dollar being bid against currencies like ours," a senior trader at a private bank said.
Currencies in Asia have come under immense pressure in recent months, with expectations that the U.S. Federal Reserve will hike rates faster and further than its peers contributing significantly to the safe haven dollar's surge.

::Sports::

Player power, potential for conflict in AIFF draft constitution

India’s top league to be managed by the All India Football Federation (AIFF), greater agency for players and a mandatory cooling-off period between three four-year terms for office-bearers find mention in the working draft of the constitution of the AIFF sent to FIFA and states’ representatives early on Wednesday. HT has a copy of the draft prepared by the Committee of Administrators now running AIFF following a Supreme Court verdict.
The draft has possibilities for conflict with state associations and Football Sports Development Limited (FSDL), which runs Indian Super League, India’s top tier competition.
“Seniormost top division league shall mean the league competition owned, operated, recognised and directly managed by AIFF…function/roles cannot be assigned to any other entity or organisation,” according to the draft.
This could contravene the master rights agreement between AIFF and FSDL that is valid till 2025. Till press time, FSDL could not be reached for a comment.