Current Affairs for BANK, IBPS Exams - 17 March 2022

::National::

'Mahatma Gandhi Green Triangle' unveiled in Madagascar

As part of the ‘Azadika Amrit Mahotsav’ to commemorate India’s 75th year of independence, a “Green Triangle” named after Mahatma Gandhi was jointly inaugurated in Madagascar’s capital Antananarivo.
Mayor of Antananarivo Naina And riantsitohaina and India’s Ambassador to Madagascar Abhay Kumar inaugurated the green space on Wednesday at a special ceremony in Madagascar’s capital Antananarivo.
The ceremony was attended by members of local government, diplomatic corps, heads of international organizations and members of the Indian Diaspora, to mark ‘Azadi ka Amrit Mahotsav’ celebrations.
Speaking on the occasion, Andriantsitohaina voiced appreciation for efforts by the Embassy in greening the area, saying it meets the objective of the Urban Municipality of Antananarivo to create the maximum green space in the capital city of Madagascar, according to a press release by the Embassy.
Kumar said Gandhi was the ‘greatest Pravasi’ who returned to India from South Africa, led India’s freedom struggle and changed the lives of Indians forever.
He added that Madagascar has a large diaspora from the Indian state of Gujarat and it is fitting that a green triangle named after Gandhi, who hailed from Porbandar in the state, is being unveiled in the capital of Madagascar.
Kumar cited Gandhi’s famous quote that the “earth provides enough to satisfy every man’s needs but not every man’s greed” and said the new green space highlights Gandhi’s vision and philosophy when it comes to reducing consumerism, respecting nature and aiming for sustainable development.

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::International::

Bangladesh tops South Asia for women on boards of listed companies

Bangladesh tops the list in South Asia in terms of women on board of listed companies, says a study conducted by International Finance Corporation (IFC) and Dhaka Stock Exchange (DSE).
According to the latest figures, there was an increase in the percentage of women who are independent directors on listed companies from five percent in 2020 to six percent, despite the impact of COVID-19, which has disproportionately affected women, said a press release issued by the IFC on Monday. A 2020 IFC-DSE study showed at the time around 18 percent of listed company board directors were women, which has remained the same.
Celebrating International Women’s Day, IFC partnered with the Dhaka Stock Exchange (DSE), UN Women, and United Nations Global Compact for the seventh consecutive year to ‘Ring the Bell for Gender Equality.’ While emphasizing women’s role in shaping a more equal future, the annual event highlighted how greater participation of women in the economy can spur sustainable and inclusive growth.
IFC Country Manager for Bangladesh, Bhutan and Nepal Martin Holtmann said that IFC has long been engaged in efforts at the capital markets level to support women as economic actors. He said that having more women in leadership positions makes economic sense for companies and is also linked to better environmental, social and corporate governance standards and practices.

::Economy::

India entered the top five clubs in the world in terms of market capitalization

For the first time, India's equities market has entered the world's top five in terms of market capitalization. The country's overall market capitalization is US$ 3.21 trillion, more than the United Kingdom's (US$ 3.19 trillion), Saudi Arabia's (US$ 3.18 trillion), and Canada's (US$ 3.18 trillion). Despite a 7.4% reduction in its market capitalization, India has risen two spots this year.
Russia's invasion on Ukraine has thrown the rankings into disarray, with European countries suffering the greatest losses in market capitalization. Germany, which was formerly one of the top five markets, is now ranked ninth. With a market capitalization of US$ 3.7 trillion and US$ 3.5 trillion, respectively, the United Kingdom and France were placed fifth and sixth at the start of the year.
Saudi Arabia, meanwhile, has moved up three spots from 10th to 7th position. The country, notably Aramco, looks to benefit from this year's increase in oil prices. The state-owned oil giant's stock has risen 15% year to far, valuing it at about US$ 2.4 trillion, second only to Apple, the world's most valuable business, with a market worth of US$ 2.6 trillion.

Finance Minister NirmalaSitharaman presented a budget of Rs 1.42 lakh crore for Jammu and Kashmir for the financial year 2022-23

Finance Minister NirmalaSitharaman presented a Rs 1.42 lakh crore budget for the union territory of Jammu and Kashmir for the year 2022-23 in the LokSabha, amid demands from the opposition that it be given adequate time for studying the proposals.
Sitharaman also presented the supplementary demands for the year 2021-22 totallingRs 18,860.32 crore for the Union Territory and moved a motion seeking suspension of certain rules to allow the House to take up the discussion on the same day.
Congress member Manish Tewari and RSP member N K Premachandran objected to the motion moved by Sitharaman, contending that that the Rule 205 formed part of the basic rules of procedure and cannot be waived.
Some rules are beyond the amending powers of the House, Tewari, a Congress member from Anandpur Sahib, said, arguing that the members required time to study the Budget proposals made by the government for Jammu and Kashmir.
Minister of State for Parliamentary Affairs Arjun Ram Meghwal said the discussion will take place after two hours.

::Science and tech::

ISRO organizes young scientist program "Yuvika" for students

Indian Space Research Organisation is organising a special programme for School Children called "Young Scientist Programme" "YUvaVIgyaniKAryakram" , YUVIKA, to impart basic knowledge on Space Technology, Space Science and Space Applications to the younger students with a preference to rural areas.
The programme is aimed at creating awareness about the emerging trends in science and technology amongst the youngsters, who are the future building blocks of our nation. ISRO has chalked out this programme to "Catch them young".Theprogramme is also expected to encourage more students to pursue in Science, Technology, Engineering and Mathematics (STEM) based research /career.
The YUVIKA - 2022 residential programme will be of two weeks duration during summer holidays (May 16-28, 2022) and the schedule will include invited talks, experience sharing by the eminent scientists, experimental demonstration, facility and lab visits, exclusive sessions for discussions with experts, practical and feedback sessions.
The programme aims to select 150 students across the country, who are studying in class IX as on March 01, 2022 in a school located within the territory of India.

::Sports::

FIDE Chess Olympiad 2022 to be held in Chennai

The Government of Tamil Nadu along with the All India Chess Federation has announced that India has won the bid to host FIDE Chess Olympiad 2022 in Chennai. After the FIDE declared that it is pulling the Chess Olympiad 2022 out of Russia due to the ongoing war situation, the world scrambled to take up this opportunity to bid for the prestigious event.
It took tremendous effort and coordination on part of all the officers involved in the Government of Tamil Nadu, the team at AICF and the personal interest of the honourable CM Thiru. M.K. Stalin for India to come up with the winning bid.