Daily GK Current Affairs of 28 & 29 May 2022

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Daily GK Current Affairs News is viable on 28 & 29 May 2022. – Here are the Regular current affairs viable of 28 & 29 May 2022 covering the following news headlines: Defence Estates Circle, Lavender Festival, Lovlina Borgohain, HDFC Money, 2022 Global Food Policy Report, 3rd Global Organic Expo 2022, ISSF Junior World Cup 2022.

Daily Current Affairs updates are incorporated with the important news that made the current affairs headlines for competitive exams. Daily Current Affairs Update is the complete box 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 of 28 & 29 May 2022 to help you prepare the Current affairs part. After reading this section, you can successfully attempt the current affairs quiz.

Table of Contents

Here current affairs have been categorized which is as follows

National News
States News
Bankings News
Business News
Sports News

National News

Jitendra Singh inaugurates India’s first ‘Lavendar Festival’ in Bhaderwah

Union Minister Dr. Jitendra Singh inaugurated the country’s first ‘Lavender Festival’ at Bhaderwah, Jammu where lavender cultivation has transformed the economy of the hilly region.
Bhaderwah in the Doda district is the birthplace of India’s Purple Revolution. The minister described Bhaderwah in the Doda district as the birthplace of India’s Purple Revolution.
Lavender has changed the fortunes of farmers in Jammu and Kashmir, under the ‘Aroma Mission or Purple Revolution’, an initiative of the Central Government which is aimed at transforming the lives of the farming community of the Union Territory.
The Purple or Lavender Revolution was launched in 2016 by the Union Ministry of Science and Technology through the Council of Scientific and Industrial Research (CSIR) Aroma Mission.
The mission aims to support the domestic aromatic crop–based agricultural economy by shifting from imported aromatic oils to domestic varieties. Lavender is cultivated in almost all the 20 districts of Jammu and Kashmir.

Rajnath Singh approves new Defence Estates Circle for Uttarakhand

Union Defence Minister Rajnath Singh has approved the proposal for the creation of a new Defence Estates Circle exclusively for Uttarakhand. In view of the difficulties faced in managing large tracts of defence land in the state and the demand of cantonment residents in Uttrakhand, the MoD will establish an independent office of Defence Estates at Dehradun and a sub-office at Ranikhet.
The establishment of the new Defence Estates Circle for Uttarakhand is a huge step forward in bringing the government closer to the people in keeping with the objective of ‘ease of living and ‘ease of doing business.
The creation of a new Defence Estates Circle at Dehradun exclusively for Uttarakhand will facilitate the residents/ organisations in getting timely and quick access to various services of defence land management.
In order to further decentralize the governance structure, Raksha Mantri has also approved the establishment of a sub-office at Ranikhet under the administrative jurisdiction of Defence Estates Dehradun to deal exclusively with six districts of the Kumaon region of the state.
Earlier, the entire defence land and cantonments in Uttrakhand were covered under two distinct Defence Estates Circles headquartered at Meerut and Bareilly in Uttar Pradesh.

States News

Rajasthan adopts revised criteria for IG Shehri Rozgar Guarantee Yojana

The Chief Minister of Rajasthan, Shri Ashok Gehlot has accepted the new rules for the implementation of the Indira Gandhi Shahari Rozgar Yojana. The scheme, modelled after the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), was introduced by Gehlot in the budget for 2022-23 to generate employment in metropolitan areas.
Under the new urban employment scheme, families living in urban areas will get 100 days of employment every year. According to an official release, the state government will invest Rs 800 crore every year in this ambitious scheme.
As per the new instructions, all the people in the age group of 18 to 60 years residing in the local body area will be enrolled under this system using their Jan Aadhar card.
The work under the proposal would be approved and carried out by the state and district committees.

Bankings News

India Post Payments Bank introduced issuer charges for AePS

India Post Payments Bank (IPPB), Department of Posts (DOP), and Ministry of Communications have introduced issuer fees for Aadhaar Enabled Payment System (AEPS).
AEPS issuer transaction fee will be effective from June 15, 2022. AEPS is a bank-led model that enables online interoperable financial inclusion transactions at Point of Sale (MicroATM) using Aadhaar verification through any bank’s business correspondent. AEPS offers six different types of transactions.
Monthly first 3 cumulative AePS issuer transactions, such as cash withdrawal, cash deposit and mini statement, will be provided free of cost.
Exceeding the free transaction limit, AEPS issuers can charge cash withdrawals and cash deposits up to Rs. 20 plus GST for each transaction and mini statement transaction up to Rs. 5 plus GST per transaction.

MUFG Bank of Japan receives approval to open a branch at GIFT City

MUFG Bank, a Japanese lender, will open a branch in Ahmedabad’s Gujarat International Financial Tec-City (GIFT City) for foreign currency lending. This will be the company’s sixth location in India.
With a wide range of financial services, MUFG can better serve its domestic and international clients. It currently has offices in Mumbai, Delhi, Bangalore, Chennai and Neemrana.
As of December 2021, India’s fund-based exposure stood at Rs 15,671.4 crore, while non-fund exposure stood at Rs 5,169.1 crore. The lender’s capital adequacy ratio stood at 21.13 per cent in December 2021, according to a filing on the lender’s website.
In theory, foreign currency-denominated loans are illegal in India due to laws, although GIFT City allows you to book India-related offshore business on Indian shores.
In March 2022, MUFG announced the creation of a $300 million investment fund for Indian start-ups. The objective of the fund is not only to help India’s economy grow economically but also to foster partnerships between MUFGs and promising technology and IT enterprises.
This will enable the bank to meet the diverse financial needs of its customers in the Indian market, which is likely to grow in future.

Business News

HDFC Securities launched the Robo-advisory platform ‘HDFC Money’

HDFC Securities has launched “HDFC Money”, a Robo-advisory investment platform that will offer mutual fund schemes and other financial products without the need for a Demat account.
Apart from mutual funds, one can manage other aspects of finance such as accessing, managing and tracking portfolios, launching target planning, creating insurance plans, generating e-wills and managing or filing taxes.
The basic objective of investing is to achieve a financial goal, which can be as simple as a complex retirement plan or a vacation trip for child education/marriage. HDFC Money, backed by the inputs of a highly experienced team, is through Robo-advisory amongst the best of the best Mutual Funds in the entire market as per the stated risk profile of the client.

CCEA cleared the sale of GoI’s 29.5% stake in Hindustan Zinc

The Cabinet Committee on Economic Affairs (CCEA) has approved the government’s 29.5% stake sale in Hindustan Zinc Limited (HZL). The sale of a 29.58% stake would represent over 124.96 crore shares that would raise around Rs 38,000 crore at the current market price.
This decision will strengthen the government’s disinvestment drive in the current financial year. The government has budgeted Rs 65,000 crore for PSU disinvestment and strategic sale. Shares of HZL closed at ₹305.05, up 3.14% on the BSE. During the day, the stock touched a high of ₹317.30 per share.

Sports News

ISSF Junior World Cup 2022: India won 33 medals

The International Shooting Sport Federation (ISSF) Junior World Cup 2022 was held in Suhl, Germany.
The Indian contingent was led by ace shooters Manu Bhaker and Saurabh Chaudhary. In the ISSF Junior World Cup 2022, the Indian Junior Shooting Team finished first overall.
He won a total of 33 medals including 13 Gold, 15 Silver and 5 Bronze. Italy finished second with four gold medals.
In the final edition of the ISSF Junior World Cup in 2021, India had 43 medals – 17 gold, 16 silver and 10 bronze – to top the medal tally.

Miscellaneous News

Delhi Customs launches Project ‘NIGAH’ at ICD Garhi Harsaru, Gurugram

Chief Commissioner, Delhi Customs Zone, Surjit Bhujabal inaugurated project ‘NIGAH’ at ICD Garhi Harsaru, Gurugram.
ICTM (ICD Container Tracking Module) has been developed in collaboration with the Custodian M/s. GRFL. A live demo of the project was given to all the participants.
Project NIGAH is an initiative to track containers by using ICTM (ICD Container Tracking Module) which will help in better visibility of the container movement inside the ICD. It will help Customs to expedite long standing containers and monitor timely clearances, thereby enhancing Ease of Doing Business along with ensuring lead preventive checks.
This innovative development at the local level to provide granular level visibility supporting ease of monitoring and synergise the technological platforms introduced by the government with other stakeholders’ platforms, which will lead India to high standards of EXIM trade. He encouraged other Custodians to replicate the project at ICDs for the benefit of trade.

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