CURRENT AFFAIRS FEBRUARY 13 2022

 

CURRENT AFFAIRS SNIPPETS

13 FEBRUARY 2022

NATIONAL

Countdown begins for ISRO'S first launch mission of 2022 scheduled for tomorrow

The countdown for the launch of PSLV-C52 that's carrying three satellites, began on Sunday morning. Scheduled for Monday at 5:59 am, this will be the space agency's first launch mission of 2022. The launch vehicle will take off from Satish Dhawan Space Centre in Sriharikota in Andhra Pradesh.

Govt extends police modernisation scheme with ₹26,275 crore outlay

The Union Home Ministry has approved the continuation of the Modernisation of State Police Forces scheme for five years up to 2025-26 with an outlay of ₹26,275 crore. The Ministry said the scheme includes security-related expenditure in Jammu and Kashmir, northeastern states and Maoists-affected areas. The scheme also aims to raise new battalions and develop high-tech forensic labs.

 

 

INTERNATIONAL

Bank freezes accounts that received C$1.4 mn for protests in Canada

The Toronto-Dominion Bank has frozen two accounts after C$1.4 million (over ₹8.28 crore) was deposited in them to support the protests being held in the country against coronavirus measures, a bank spokesperson said on Saturday. The Canada-based bank applied to a court on Friday so that the funds could be either sent to the recipients or returned to the donors.

Vietnam to lift COVID-19 curbs on all global flights from Feb 15

Vietnam will end COVID-19 curbs on international flights with all markets from February 15, reported state-run newspaper, Tuoi Tre, on Sunday. Citing a government official, Tuoi Tre said frequency of flights will be restored to pre-pandemic level. This comes after Vietnam resumed flights with 15 markets as the year began. Meanwhile, Vietnam reported over 27,000 new cases on Saturday.

German President Frank-Walter Steinmeier elected for 2nd term

German President Frank-Walter Steinmeier was elected for a second term on Sunday by a special parliamentary assembly. Endorsed by most mainstream parties, Steinmeier won with a big majority. In his acceptance speech, Steinmeier vowed to protect democracy and warned of a potential war if Russia invades Ukraine. Earlier, Steinmeier served as Foreign Minister under Former Chancellor Angela Merkel.

 

BANKING, BUSINESS AND ECONOMY

ED arrests Hyd jeweller under PMLA in loan fraud case of ₹67 crore

Enforcement Directorate (ED) has arrested Hyderabad-based Ghanshyamdas Gems and Jewels' Managing Partner Sanjay Agarwal in loan fraud case, ED said on Sunday. Agarwal was arrested under the Prevention of Money Laundering Act (PMLA) 2002, in which State Bank of India (SBI) Hyderabad, suffered a loss of ₹67 crore. Kumar has been remanded to judicial custody for 15 days, ED said.

Import duty on crude palm oil cut to 5.5% to cool edible oil prices

Central Board of Indirect Taxes and Customs (CBIC) reduced the effective duty on crude palm oil import from 8.25% to 5.5%. CBIC aims to control cooking oil prices and support domestic processing companies with this move. Effective from Sunday, CBIC has cut agri infra development cess to 5% and extended reduced import duty on crude oils by six months.

No e-comm firm has been found guilty of predatory pricing yet: MoS

The Competition Commission of India (CCI) has received certain complaints against e-commerce companies alleging predatory pricing but it has not found any company guilty so far, Minister of State for Commerce and Industry, Som Parkash, said. "Imposition of unfair or discriminatory prices...by a dominant enterprise or group is prohibited under provisions of...Competition Act, 2002," he added.

5G spectrum auction expected to be held in May: Telecom Secretary

Telecom Secretary K Rajaraman told PTI the 5G spectrum auction is expected to be held in May this year. "Telecom Regulatory Authority of India has indicated that they will send it (recommendations on rules regarding the sale process) by March," Rajaraman said. He added that it will take the department two months to start the auction after getting those recommendations.

 

Only 5 of 15 MSME technology centres completed since 2015: Govt data

Only 5 out of 15 proposed MSME technology centres (TCs) have been completed in the last seven years, government data showed. The TCs were proposed under the Technology Centre Systems Programme (TCSP) and were due to be completed by 2020-21. Work at five TCs at Bhiwadi (Rajasthan), Pudi (Andhra Pradesh), Bhopal (Madhya Pradesh), Rohtak (Haryana) and Puducherry was completed.

 

North Western Railway earns ₹205 crore by selling scrap

The North Western Railway (NWR) earned over ₹205 crore in the current financial year so far by selling scrap items, officials said on Saturday. The objective is to reach 'zero scrap' by the end of this financial year, the Chief Public Relations Officer said. The NWR had earned ₹202 crore during the same period last financial year, the official added.

SBI expects to recover ₹8,000 cr from written-off accounts in FY22

State Bank of India (SBI) is expecting to recover around ₹8,000 crore from written-off accounts, including from National Company Law Tribunal (NCLT) resolved cases, in FY22. During the October-December quarter, SBI recovered ₹1,500 crore while between April-December 2021, it recovered ₹5,600 crore, SBI said. The bank's non-performing assets dropped from 4.9% in Q2 FY22 to 4.5% in Q3 FY22.

What is the ₹22,842 cr ABG Shipyard case, biggest bank fraud registered by CBI?

The CBI in its biggest bank fraud case booked Mumbai-based ABG Shipyard, its directors and ex-Chairman Rishi Kamlesh Agarwal for allegedly defrauding 28 banks, including SBI, of ₹22,842 crore. The company's loan account became an NPA in 2013. An E&Y forensic audit report in 2019 identified fraud and attributed it to diversion of funds, misappropriation and criminal breach of trust.

LIC's embedded value set at ₹5.39 lakh crore

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Life Insurance Corporation of India (LIC) on Sunday filed the draft red herring prospectus (DRHP) with SEBI for an IPO. The draft papers revealed that LIC's embedded value stood at ₹5,39,686 crore as on September 30, 2021. The embedded value of a life insurance company represents the sum of present value of future profits and the net value of assets.

LIC reserves up to 10% of issue size for policyholders in its IPO

Life Insurance Corporation of India (LIC) has decided to reserve a maximum of 10% and 5% of its IPO issue size of 31.6 crore shares for policyholders and employees respectively. The quantum of discount on the share price will be announced later. Policyholders who fail to update their PAN details by February 28 will not be eligible for this quota.

 

SPORTS
Who were the most expensive uncapped players in IPL mega auction?

short by Anmol Sharma / 10:50 pm on 13 Feb 2022,Sunday

Pacer Avesh Khan became the most expensive uncapped player in IPL history after being bought by LSG for ₹10 crore in IPL 2022 mega auction. All-rounders Shahrukh Khan and Rahul Tewatia were the joint second-most expensive uncapped players, being bought for ₹9 crore each by PBKS and GT respectively. Rahul Tripathi was bought by SRH for ₹8.50 crore.

 

OBITUARY

All men die, not all men truly live: Rajiv Bajaj's WhatsApp status after father's demise

Bajaj Auto MD Rajiv Bajaj, the son of industrialist Rahul Bajaj, paid tribute to his father in a WhatsApp status that read, "All men die, not all men truly live," Moneycontrol reported. Padma Bhushan awardee Rahul Bajaj passed away at the age of 83 on Saturday. He was cremated with full state honours in Pune on Sunday.

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