CURRENT AFFAIRS SNIPPETS FEBRUARY 7 TO 9 2022

 

CURRENT AFFAIRS SNIPPETS

 

07th February 2022

National News

 

Aadhaar not mandatory on CoWIN for COVID-19 vaccination: Centre tells SC

The Supreme Court on Monday asked authorities to not insist on Aadhaar cards for COVID-19 vaccination after the Centre said it wasn't a mandatory pre-condition on the CoWIN portal. Centre added that one of the nine identity documents including passport and PAN card can be used for it. The petition contended that Aadhaar card was being insisted upon during vaccination.

 

PM Modi inaugurates 50th Anniversary Celebrations of Hyderabad-based ICRISAT

Prime Minister Narendra Modi has inaugurated the 50th Anniversary celebrations of the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) in Patancheru, Hyderabad.  During the occasion, PM also inaugurated two research facilities of ICRISAT, which were Climate Change Research Facility on Plant Protection and Rapid Generation Advancement Facility.  These two facilities are dedicated to the smallholder farmers of Asia and sub-Saharan Africa. Prime Minister also unveiled a specially designed logo of ICRISAT and launched a commemorative stamp issued on the occasion. Its objective is to conduct agricultural research for rural development, in Asia & sub-Saharan Africa.

MP govt to set up music academy, museum in Lata Mangeshkar's memory

The Madhya Pradesh government on Monday announced the establishment of a music academy and a museum showcasing late veteran singer Lata Mangeshkar's songs at her birthplace Indore. A statue of the singer will also be installed in the city. Chief Minister Shivraj Singh Chouhan called her the daughter of Madhya Pradesh, adding that her heart throbbed for the state

Supreme Court to resume physical hearing twice a week from Feb 14

Supreme Court will resume the physical hearing twice a week from February 14 in view of a drop in the number of COVID-19 cases. Physical hearings would be held on Wednesday and Thursday. On other days, a hybrid mode of hearing would be held. The decision was taken by the Chief Justice of India in consultation with Committee of Judges.

 

West Bengal launch open-air classroom programme ‘Paray Shikshalaya

West Bengal government has launched an open-air classroom programme Paray Shikshalaya (Neighbourhood Schools) for primary and pre-primary students.  Under the 'Paray Shikshalaya' project, primary and pre-primary students of government schools will be taught in open spaces.  The state government will also provide mid-day meals to the students of 'Paray Shikshalaya’. The para teachers and primary school teachers would be part of this project. They will provide elementary education to children of Class 1-5.

GoI approved the renaming of three places in Madhya Pradesh

The government of India (GoI) has approved the renaming of 3 places in Madhya Pradesh, Hoshangabad Nagar as “Narmadapuram”, Shivpuri as “Kundeshwar Dham” and Babai as “Makhan Nagar”.  In 2021, the government of MP led by Shivraj Singh Chouhan has proposed the renaming of the 3 places in Madhya Pradesh. The approval for the renaming was granted by the Ministry of Home Affairs (MHA).  The Hoshangabad Nagar named after Hoshang Shah, the first formally appointed Sultan of the Malwa Sultanate of Central India was renamed as Narmadapuram. Babai has been renamed after the renowned journalist and poet Makhanlal Chaturvedi. Makhanlal Chaturvedi was born in Babai, MP. The government has named a national university of journalism and communication at Bhopal after Makhanlal in 1992.

Professor Dinesh Prasad Saklani named as new NCERT director

Professor Dinesh Prasad Saklani has been appointed as the new Director of the National Council of Educational Research and Training (NCERT). He has replaced Hrushikesh Senapaty, who finished his term a year ago.  The new director has been appointed for a period of five years with effect from the date of assumption of charge of the post, or till he attains the age of 65 years, or until further orders, whichever is earlier.  Professor Saklani has been awarded with Distinguished Academy Award by Punjab Kala and Sahitya Academy, Jalandhar for Historical writing in 2005.  The new director is a member of the Academic Council of Uttarakhand Open University, Haldwani. Professor Saklani is also a life member in the Indian History Congress; Uttarakhand History and Culture Association and of Book Club IIAS Shimla.

BANKING, BUSINESS AND ECONOMY

 

LIC tie-up with Policybazaar for digital distribution of life insurance

Life Insurance Corporation (LIC) has tied up with Policybazaar to digitally offer a wide range of Life Insurance and investment products to its customers across India.  This is LIC’s first association with a private insurance aggregator, which has mainly relied on its 1.33 million agents for distributing products. To facilitate seamless digital distribution of life insurance products and boost financial inclusion across India.  The benefit of the tie-up: The alliance will provide insurance services in smaller cities to ensure financial inclusion and social security. It will increase its penetration digitally in rural and remote areas and offer a wide range of term and investment products to the customers.

ADB lends record USD 4.6 bn loans to India in 2021

As per the data official released by the Asian Development Bank (ADB), it provided a record USD 4.6 billion in sovereign lending to India in 2021. This included USD 1.8 billion towards coronavirus disease (COVID-19) pandemic response.  The ADB's regular funding programme to India is made to support transport, urban development, finance, agriculture, and skills building. The ADB's project portfolio in 2021 reflected the Indian government's focus on transforming cities into economically vibrant and sustainable communities.  The USD 4.6 billion was committed by ADB for 17 loans. The USD 1.8 billion COVID-19-related assistance included USD 1.5 billion for vaccine procurement and USD 300 million to strengthen primary health care in urban areas and the country’s future pandemic preparedness.

Govt issues 'high severity' warning to Google Chrome users, asks them to update it

The government's Computer Emergency Response Team (CERT-In) recently issued a 'high severity' warning to Google Chrome users, urging them to apply appropriate updates. The CERT-In said, "Multiple vulnerabilities have been reported in Google Chrome which could allow an attacker to execute arbitrary code on the targeted system." The problem exists in Chrome versions prior to 98.0.4758.80.

Around 6.17 cr I-T returns, 19 lakh audit reports filed on new portal: CBDT

The Central Board of Direct Taxes said that around 6.17 crore income tax returns and about 19 lakh tax audit reports have been filed on the new income tax e-filing portal. Of the 6.17 crore returns filed till February 6, 48%, or 2.97 crore, are ITR-1, while 27%, or 1.65 crore, are ITR-4 and 13%, or 81.6 lakh, are ITR-3.

Airtel partners with Google, aims to help grow India's digital ecosystem

Google will be investing up to $1 billion in Airtel as part of its Google for India Digitization Fund. Airtel stated that it will continue to improve digital offerings and will soon develop India-specific network domain use cases for 5G. The company is also working on a cloud ecosystem in a bid to accelerate the digital adoption of enterprises.

 

Govt of India has done a Switch Operation of Rs. 1,19,701 crores

The Government of India has done a conversion switch transaction of its securities with the Reserve Bank of India (RBI) for an amount of 1,19,701 crores (face value).  The transaction involved buying back securities that are being matured in FY 2022-23, FY 2023-24 and FY 2024-25 from the RBI and also issuing fresh securities for equivalent market value, to make the transaction cash neutral.  The transactions were carried out using Financial Benchmarks India Private Limited (FBIL) prices as of January 28, 2022. The GOI undertakes switch operations with RBI and also with market participants to smoothen the liability profile as well as for market development.

India's GDP projected to be at ₹147.5 lakh cr in FY22: MoS Finance

Minister of State for Finance Pankaj Chaudhary said on Monday that India's GDP in FY22 is estimated to grow at 9.2% to ₹147.5 lakh crore. He added that as per National Statistical Office's advance and revised estimates, India's real GDP increased from ₹105.3 lakh crore in 2014-15 to ₹135.6 lakh crore in 2020-21.

 

CII presents DX 2021 award to Karnataka Bank

Karnataka Bank has been awarded the digital transformation award, ‘DX 2021 Awards’, in recognition of the “innovative” best practice ‘KBL VIKAAS’, by the Confederation of Indian Industry (CII) for Best Practice in Digital Transformation.  KBL VIKAAS was launched by the Karnataka Bank in 2017. It has enabled the bank to implement digital capabilities. The bank recently launched ‘KBL NxT’ as part of 2.0 of ‘KBL VIKAAS’. DX Award is given to organizations that have made valuable contributions in the digital field.

Sports News

U19 World Cup 2022: India beat England in final to win 5th title

India defeated England by four wickets to clinch a record-extending fifth title at the Sir Vivian Richards Stadium, Antigua. India added the fifth title to their collection, having previously won the trophy in 2000, 2008, 2012, 2018. Yash Dhull becomes the fifth Indian captain to win the title after Mohammad Kaif, Virat Kohli, Unmukt Chand and Prithvi Shaw.  Earlier, England opted to bat after winning the toss but they were shot out by India for 189 in 44.5 overs. India chases down the target of 190 with 2.2 overs to spare.  India's Raj Angad Bawa was announced Player of the Match of the ICC Under19 World Cup 2022 Final between India and England.  South Africa's Dewald Brevis who broke all records to score 506 runs in only six innings, the most for any batter in any Under19 World Cup ever, was named Player of the Series for his record-breaking showing.

IOC approves proposal to include new sports at 2028 Olympics

International Olympic Committee (IOC) has approved a proposal to include Surfing, Skateboarding and Sport Climbing for the 2028 Summer Olympics Games that will be organized in Los Angeles, United States.  The 2028 Summer Olympics are officially known as the Games of the XXXIV Olympiad, or Los Angeles 2028 is a forthcoming event scheduled to take place from July 21 – August 6, 2028, in Los Angeles, California, US.  The 2024 Summer Olympics Games will be organized in Paris, France. With this Paris becomes only the second city to host 3 Summer Olympic games. Surfing, Skateboarding and Sport Climbing had made their Olympic debut in Tokyo Olympics 2021 and will also be included in the “additional” list for Paris in 2024. Boxing, weightlifting and modern pentathlon also have the chance to be included in upcoming Olympics games.

Sourav Ganguly laid the foundation stone of world’s third-largest cricket stadium

Rajasthan Chief Minister, Ashok Gehlot and BCCI President Sourav Ganguly laid the foundation stone of the world’s third-largest cricket stadium in Jaipur. The International Cricket Stadium in Jaipur will be the second-largest cricket stadium in India and the third-largest in the world.  The new international stadium will be built by the Rajasthan Cricket Academy (RCA) on the Jaipur-Delhi bypass, over 100 acres of land in Jaipur. The stadium will have a seating capacity of 75,000 spectators.  Currently, Narendra Modi Stadium (former Motera Stadium) in Ahmedabad is the world’s largest stadium with a capacity of 132,000 spectators.  The second-largest stadium is Australia’s Melbourne Cricket Ground (MCG) which has a capacity of 1,00,024 spectators.

Important Days

International Day of Zero Tolerance to Female Genital Mutilation

International Day of Zero Tolerance for Female is observed on 6th February globally. This day is sponsored by the United Nations for their efforts to eradicate female genital mutilation. It was first introduced in 2003. This year theme of International Day of Zero Tolerance for Female: Accelerating Investment to End Female Genital Mutilation.  Female genital mutilation (FGM) comprises all procedures that involve altering or injuring the female genitalia for non-medical reasons and is recognized internationally as a violation of the human rights, the health and the integrity of girls and women.

Obituaries News

BJP’s first torchbearer in Lok Sabha, C Janga Reddy passes away

Veteran Bharatiya Janata Party (BJP) leader, Chandupatla Janga Reddy has passed away in Hyderabad following health issues. He was a native of Warangal and a former MLA in Andhra Pradesh.  He is best known for his time as a Member of Parliament in the 8th Lok Sabha in 1984, which also marked the BJP’s debut in the Lok Sabha, following Indira Gandhi’s assassination.  Reddy was one of the only two BJP MPs who got elected to the Lok Sabha in 1984 in 543 Parliament constituencies. The other was A K Patel. He was elected to the Legislative Assembly in undivided Andhra Pradesh thrice.

Former President of Greece Christos Sartzetakis passes away

Former Greek President Christos Sartzetakis has passed away at the age of 92 years due to respiratory failure in Athens, Greece. He was a Greek jurist and a judge of the Supreme Court, who resisted against the militants during the 1967-1974 Rule of the Colonels. He served as the President of Greece for a four-year term (1985 to 1990), after getting nominated by the socialist PASOK party.

 

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CURRENT AFFAIRS SNIPPETS

 

08th February 2022

 

National News

Old-age pension scheme won't be abolished: Haryana govt

Haryana government has announced that it will not abolish the 'Old Age Samman Allowance' pension scheme, stating that the beneficiaries will continue to receive their dues in a timely manner. The announcement came amid allegations that the BJP-led state government is abolishing the policy. The scheme is available for all poor citizens of Haryana aged 60 and above.

 

 

S R Narasimhan takes additional charge as CMD POSOCO

S. R. Narasimhan, Director (System Operation) has assumed the additional charge of the post of Chairman and Managing Director (CMD) of Power System Operation Corporation Limited (POSOCO) w.e.f. 1st February 2022 at New Delhi.  He has a Bachelor Degree in Electrical Engineering and a Master in Business Administration (MBA) in Finance. He has over three decades’ experience in Power System Operation spread across CEA, POWERGRID and POSOCO after an initial stint with BHEL.  SR Narasimhan has contributed to several Expert Committees at the Government and regulatory levels in different areas ranging from system operation, grid integration of Renewable Energy (RE) resources and optimization to institution building.

Dr Unnikrishnan Nair named as New Director of VSSC 

Scientist and launch vehicle specialist, Dr S Unnikrishnan Nair took charge as the director of Vikram Sarabhai Space Centre (VSSC). VSSC is a keyspace research centre of the Indian Space Research Organisation (Isro) and specialises in rocket and space vehicles for satellite programs.  Nair, who started his career in VSSC Trivandrum in 1985, has made significant contributions in launch vehicle mechanisms, acoustic protection systems and payload fairing areas during his tenure.  Nair has BTech in Mechanical Engineering from Kerala University, ME in Aerospace engineering from IISc, Bengaluru and PhD in Mechanical Engineering from IIT(M), Chennai. In January 2019, Nair took over as the first director of Human Space Flight Centre, Bengaluru, which is spearheading the Gaganyaan Programme. He will continue to hold this position along with his new role at the VSSC.

Santishree Dhulipudi Pandit named as first woman Vice-Chancellor of JNU 

The Ministry of Education (MoE) has appointed Santishree Dhulipudi Pandit as the new Vice-Chancellor of Jawaharlal Nehru University (JNU). She is the first women Vice-Chancellor of JNU.  The 59-year-old Pandit has been appointed for a period of five years. Pandit replaces M Jagadesh Kumar, who has been appointed as Chairman of the University Grants Commission (UGC). Before this appointment, Pandit was serving as the Vice-Chancellor of Savitribai Phule University in Maharashtra.

 

 

Gautam Adani to become Asia’s richest person

Gautam Adani is ranked 10th among the world's richest people with a net worth of $88.5B in the Bloomberg Billionaires Index. He has overtaken Mukesh Ambani to become Asia's richest person. The RIL Chairman is ranked 11th with $87.9B net worth. 

RPF launches nationwide "AAHT operation" to curb human trafficking

Indian Railway Protection Force has launched a nationwide operation to curb human trafficking. As part of “Operation AAHT”, special teams will be deployed on all long-distance trains/routes with a focus on rescuing victims, particularly women and children, from the clutches of traffickers.  The Railways, which operate about 21,000 trains across the country daily, is the most reliable mode of transportation for the traffickers who often moved their victims on long-distance trains.  The RPF that rescued more than 2,000 women and children between 2017-21 from the clutches of traffickers intensified the crackdown on human trafficking with the increasing number of cases. The National Crime Records Bureau registers about 2,200 cases of Human Trafficking cases on an average each year.

India becomes first country to administer COVID-19 DNA vaccine

India has become the first country in the world to administer a DNA vaccine against COVID-19. The ZyCoV-D which is the World’s first plasmid DNA vaccine has been produced by Ahmedabad-based vaccine manufacturer Zydus Cadila and it was administered for the first time in Patna.  It is a Painless and Needleless vaccine given at intervals of 28 days and 56 days. It is the second India-made vaccine to get emergency authorization in India after Bharat Biotech’s Covaxin.  The Indian government approved emergency use authorisation for Zydus Cadila's DNA vaccine earlier this year, citing initial results from Phase III clinical trials that showed approximately 66 per cent efficacy for symptomatic cases.

 

Salesforce Global Index: India leads in digital skills readiness 

Salesforce, a leading player in Customer Relationship Management (CRM), published the Global Digital Skills Index 2022 which highlights the growing global digital skills crisis and the need for action.  India has scored 63 out of 100, leads the digital skills readiness, and has the highest readiness index among the 19 countries. The average global readiness score was 33 out of 100.  The 2022 Global Digital Skills Index, is based on a survey on around 23000 workers across 19 countries about digital skills, including their impact on the future of work, concerns about job readiness, and the significance of continuous learning.  Three major skills gaps were identified in the 2022 global index: The everyday skills gap, The generational skills gap, and The leadership and workforce skills gap.

International News

Queen Elizabeth II marks 70th anniversary of her rule

The United Kingdom has marked the 70th anniversary of Queen Elizabeth II's rule, the queen looked to the future of the monarchy. She surpassed Louis XIV of France as the longest-reigning monarch of a sovereign state.  She became the longest-lived British monarch on 21 December 2007. In 2017, she became the first British monarch to commemorate a Sapphire Jubilee.  Elizabeth II is the Queen of the United Kingdom and 14 other Commonwealth realms. On 6 February 1952, Elizabeth became queen after the death of her father King George VI.

Banking, Business and Economy

 

IPO-bound LIC may give 5% discount to policyholders: Reports

short by Ashley Paul / 09:46 pm on 08 Feb 2022,Tuesday

IPO-bound Life Insurance Corporation of India (LIC) might give a 5% discount on the IPO's price band to its policyholders, ET Now reported. It added that retail bidders and employees are also likely to be given a concession and that LIC may file its IPO prospectus on February 10. The government is likely to sell a 5-7% stake in LIC.

 

Kotak General Ins. partners CARS24 to offer Motor Insurance for used cars

ICICI Lombard General Insurance has partnered with Airtel Payments Bank to offer cyber insurance to customers of the bank.  This Cyber Insurance policy provides financial protection to customers against potential financial fraud relating to banking, credit or debit card; identity theft; phishing or email spoofing etc. Airtel Payments Bank customers can purchase this cyber insurance policy within minutes using the Airtel Thanks app.  The insurance comes with zero waiting period and allows users to make multiple claims multiple times during the policy tenure, within the limits of the insured amount opted for.  The policy will provide a 90-day discovery period followed by a seven-day reporting period.  This means that if the insured discovers an unauthorised transaction processed from their card or account on the 90th day from the transaction date, they can still report it in the next seven days to the issuing bank or mobile wallet company.

Sports News

Africa Cup Of Nations: Senegal Beat Egypt

Senegal has defeated Egypt in the Africa Cup of Nations championship winning the continental championship for the first time on penalty kicks at Olembe Stadium in Yaoundé, Cameroon.  Sadio Mane scored the winning spot-kick as Senegal claimed a first-ever Africa Cup of Nations title with a 4-2 penalty shootout victory over seven-time winners Egypt. The final had ended 0-0 after extra time.  Senegal had lost two finals previously, including at the last African Cup in Egypt in 2019, when Mané was left inconsolable. This time he delivered the winning moment.

Sri Lankan fast bowler Suranga Lakmal announces retirement

Veteran Sri Lankan fast bowler Suranga Lakmal has announced to retire from international cricket, after Sri Lanka’s upcoming tour of India.  The 34-year-old right-arm fast bowler and right-handed batsman aim to join the English county club Derbyshire after retirement.  The Derbyshire County Cricket Club has signed up Lakmal on a two-year contract. Lakmal has represented Sri Lanka in 165 international matches across formats, in his international career spanning over 12 years.

China wins AFC Women’s Asian Cup India 2022 Football Tournament

China PR (People's Republic) defeated South Korea (Korea Republic), 3-2, to win the AFC Women`s Asian Cup India 2022 final title at the D.Y. Patil Stadium in Navi Mumbai.  This is the record-extending 9th AFC Women`s Asian Cup title won by China. India is hosting the 20th edition of the football AFC Women’s Asian Cup India 2022 from January 20, 2022, to February 06, 2022. China now qualifying for the 2023 FIFA Women’s World Cup to be held in Australia and New Zealand.

The following awards were given at the conclusion of the tournament:

Most Valuable Player: Wang Shanshan (China)

Top Scorer: Sam Kerr (7 goals) (Australia)

Best goalkeeper: Zhu Yu (China)

Fairplay Award: South Korea

 

BCCI launch women's IPL in 2023

BCCI Secretary Jay Shah informed that the board plans to launch a full-fledged women's Indian Premier League (IPL) in the next year. The women's IPL will be on the same lines as men's IPL. Currently, a three-team Women's T20 Challenge is staged alongside men's IPL. It will soon be expanded to include more teams and players. 

 

 

Obituaries News

R Rajamohan, who led the 1st Asteroid Discoveries In Independent India, passes away

Professor R Rajamohan, who was an astronomer at the Indian Institute of Astrophysics (IIA), Bengaluru, for decades, passed away.  He is best known for his Kalki Project, which aimed to discover asteroids using the 48-cm Schmidt telescope in Kavalur VBO and discovered a new asteroid, number 4130, from India. This was the first asteroid discovered in India in 104 years.

‘Kabir of Karnataka’ Ibrahim Sutar passes away

Padma Shri awardee and social worker, Ibrahim Sutar has passed away in Karnataka following a cardiac arrest. Fondly referred to as the “Kabir of Kannada”, Sutar was known for his work towards spreading social and communal harmony. Ibrahim is popular among the public, especially in north Karnataka, for his spiritual discourses. He was awarded the Padma Shri in 2018. 

 

Praveen Kumar Sobti

Praveen Kumar Sobti, who was popular for essaying the role of Bheem in BR Chopra's Mahabharat, passed away on February 7, 2022 at his residence in Ashok Vihar, Delhi. He was 74.

The actor reportedly suffered a cardiac arrest. His relative informed that Sobti had a chronic chest infection problem. He is survived by his wife and daughter.

Praveen Kumar Sobti was also an extremely talented track and field athlete. He not only represented India in two Olympic Games but was also a four-time Asian Games medalist. He was honoured with the Arjuna Award for his accomplishments.

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CURRENT AFFAIRS SNIPPETS

09th February 2022

 

 

NATIONAL

 

Lata Mangeshkar was the voice of the subcontinent: UN chief

The UN Secretary-General António Guterres has condoled the demise of veteran singer Lata Mangeshkar saying that she truly had been the voice of the subcontinent. India's Permanent Representative to the UN Ambassador TS Tirumurti had said on Sunday that the veteran singer's passing is an irreplaceable loss to the nation and an irreplaceable loss to the world of music.

Government has no business to do business: PM Narendra Modi

PM Narendra Modi in an interview with ANI said, "Government has no business to do business." He explained, "Its job is to think about food for the poor, make houses and toilets, get them clean drinking water, make health facilities available to them, make roads, and think about small farmers." He added, "If somebody calls this socialism, I accept it."

 

 

Akshay Kumar named as brand ambassador of Uttarakhand 

Chief Minister of Uttarakhand, Pushkar Singh Dhami has appointed Bollywood actor Akshay Kumar as the brand ambassador of Uttarakhand ahead of the 2022 Assembly Elections.  In 2017, Akshay Kumar was appointed as Uttarakhand’s brand ambassador for ‘Swachhata Abhiyan’. Akshay Kumar, is a Canadian-Indian actor, a film producer who has acted in more than 100 films. In 2021, Indian cricketer Rishabh Pant, who hails from Roorkee, Uttarakhand was appointed as the brand ambassador of Uttarakhand.  Indian field hockey player, Vandana Katariya was appointed as the brand ambassador of the women and child development department of Uttarakhand as well as the brand ambassador of the Centre’s ‘Beti Bachao, Beti Padhao’ scheme for Haridwar district.

Kerala signed an MoU with Social Alpha to develop clean energy tech

Kerala Government has signed an MoU with the Social Alpha’s Energy Lab – “Clean Energy International Incubation Centre (CEIIC)” to support innovative and clean energy technology programmes in Kerala.  The Government of Kerala signed this agreement through Kerala Development & Innovation Strategy Council (KDISC) and Energy Management Centre (EMC).  The EMC Kerala represents the Power Department agencies including the Kerala State Electricity Board, Electrical Inspectorate and ANERT (Agency for New and Renewable Energy Research and Technology). To establish a clean energy incubation centre to boost green energy development and energy conservation activities in Kerala.

Ex-consultant to World Bank Pradip Shah named as Pfizer India chairman

Pfizer India has appointed Pradip Shah as the chairman of its board following the resignation of RA Shah. He is the ex-managing director and a founding member of Crisil. Prior to founding Crisil, he assisted in founding HDFC in 1977.  He has also served as a consultant to USAID, the World Bank, and the Asian Development Bank. Pradip is a director on the board of several reputed companies. He is also a member of various prestigious committees/commissions.  He is presently the Chairman of Indasia Fund Advisors. He holds an MBA from the Harvard Business School and is also a chartered accountant and a cost accountant.

Disha Patani named as Brand Ambassador of Bata India

Bata India Limited has appointed Bollywood actress, Disha Patani as it’s Brand Ambassador. She will promote the brand and strengthen the youth connection to enhance footwear fashion among them.  Previously, Bata has associated with celebrities including Kriti Sanon, Sushant Singh Rajput, and cricket player Smriti Mandhana for promoting various labels under Bata.  Regarded as the face of next-gen Bollywood, Patani is currently one of the most popular actors in the country. Known for her exceptional fashion sense and fitness, she is widely regarded as a trendsetter. The stylish actor enjoys a huge following on social media and has won millions of hearts with her charming smile and vibrant personality.

Amitabh Bachchan named as brand ambassador of MediBuddy

MediBuddy, one of India’s largest digital healthcare platforms, has signed legendary Bollywood star Amitabh Bachchan as the official brand ambassador. As part of the deal, Bachchan will be seen endorsing various services available on the platform, while highlighting the need to prioritise one’s health.  With the deal in place, MediBuddy is looking at further amplifying its reach across India. Leveraging the veteran actor’s popularity, especially across tier II and tier III cities, the brand aims to position itself as a household name.\

INTERNATIONAL

US $100mn arms sale to Taiwan is interference in our affairs: China

Chinese Defence Ministry on Wednesday warned the US against a $100 million sale of equipment and services to Taiwan. The Defence Ministry spokesman, Wu Qian, said that US military shipments to Taiwan degrade relations between China and the US, adding, "[It] severely infringes on the 'One China' principle." "This represents a flagrant interference in China's internal affairs," Qian added.

 

US should stop imposing sanctions against North Korea: China

Chinese Foreign Ministry spokesperson Zhao Lijian said if the US is sincerely concerned about the well being of North Koreans then it should stop imposing sanctions against North Korea and stop pressurising them. Lijian said the US should give due importance to the denuclearisation measures taken by North Korea. North Korea carried out seven suspected ballistic missile launches in January.

Unacceptable deviation from medical ethics: Pope on assisted suicide

Pope Francis condemned assisted suicide on Wednesday and termed it an "unacceptable deviation" from medical ethics. "We must accompany death, not provoke death or help any kind of suicide," Pope said. His remarks come as the Italian parliament resumed discussions on a law that will allow terminally ill patients to seek assisted suicide through Italy's healthcare system.

Banking, Business and Economy

 

Why has a Chinese city's lockdown sent aluminium prices to 14-year high?

The COVID-19 lockdown in China's Baise city sent global prices of aluminium to a 14-year high. Baise was locked down on Monday after mass testing identified nearly 100 people with COVID-19. Nicknamed the "aluminium capital of southern China", Baise produces about 2.2 million tonnes of aluminium per year, but the production was impacted due to travel restrictions hindering logistics flows.

RBI to observe Financial Literacy week 2022: February 14-18

The Reserve Bank of India will observe February 14-18, 2022 as Financial Literacy week 2022. Reserve Bank of India (RBI) has been conducting Financial Literacy Week (FLW) every year since 2016 to propagate financial education messages on a particular theme across the country. Banks have been advised to disseminate the information and create awareness among its customers and the general public.  The theme of Financial Literacy week 2022 is: “Go Digital, Go Secure”. The theme is aligned with one of the strategic objectives of the National Strategy for Financial Education: 2020-2025.  The focus of Financial Literacy Week this year will be on the following three topics with a view to ensure safe and secure Digital Transactions: The convenience of digital transactions, Security / feel secure and no fear for digital transactions, Protection to customers.

Sonata Software tie-up with Microsoft for its launch of ‘Microsoft Cloud’

A global IT Services, and Technology Solutions Company, Sonata Software has announced its partnership with Microsoft for its launch of ‘Microsoft Cloud for Retail’. The company has been a partner with Microsoft for over three decades.  The ‘Microsoft Cloud for Retail’ collaboration is expected to further strengthen the relationship. Sonata Software delivers solutions for retailers worldwide, leveraging world-class IPs, in-house migration and modernisation tools.  The partnership with Microsoft Cloud for Retail will further enhance our capabilities, with its emphasis on leveraging data, elevating the shopping experience, building real-time, sustainable supply chains, and empowering store associates.  The Sonata Connected Retail solution is available through Microsoft AppSource. Sonata Software is a Microsoft Gold Partner and is a member of the Microsoft Inner Circle for Business Applications.

NITI Aayog and USAID annouces tie-up under SAMRIDH initiative

Atal Innovation Mission (AIM), NITI Aayog, and the U.S. Agency for International Development (USAID) have announced a new partnership under the Sustainable Access to Markets and Resources for Innovative Delivery of Healthcare (SAMRIDH) initiative.  It aims to improve access to affordable and quality healthcare for vulnerable populations in tier-2 and tier-3 cities, and rural and tribal regions.  It aims to mobilize a capital pool of $100+ million from the private sector and bilateral organizations. It leverages this fund to offer both grant and debt financing provision to support the expansion of market-based health solutions.

Amazon India signed MoU with Karnataka to turn rural women into entrepreneurs

Amazon India signed an MoU with Karnataka State Rural Livelihood Promotion Society (KSRLPS) to support the growth of women entrepreneurs.  Amazon India will launch ‘Sanjeevini-KSRLPS’ in its platform and extend benefits of the ‘Saheli’ Programme to train and empower thousands of rural women entrepreneurs and also provide online access to a wider market for their products.  The Saheli Programme offers training and skill development workshops to help women entrepreneurs. Through this, Amazon and the government bodies will come together to assist and empower lakhs of women entrepreneurs associated with them from the four states to register their business with Amazon India and access a wider market base.

Union Minister Ashwini Vaishnaw kicks Off NITI Aayog’s Fintech Open Summit

NITI Aayog, in collaboration with PhonePe, AWS and EY, has organized a three-week-long virtual summit, ‘Fintech Open’, from 7–28 February. The summit was inaugurated by Union Minister for Railways, Communications, and Electronics and IT, Ashwini Vaishnaw in the presence of NITI Aayog Vice-Chairman Dr Rajiv Kumar.  A first-of-its-kind initiative, Fintech Open will bring together regulators, fintech professionals and enthusiasts, industry leaders, the start-up community, and developers to collaborate, exchange ideas and innovate.  An open platform is created using public investment, wherein numerous private entrepreneurs, start-ups and developers can join to create new solutions. For example, today, 270 banks are connected with the UPI and many entrepreneurs and start-ups have provided solutions that have helped increase the country’s fintech adoption rate—which is the highest globally at 87%.

PM CARES Fund corpus triples to Rs 10,990.17 crore in FY 2020-21

The total corpus under the PM CARES Funds in 2020-21 was Rs 10,990.17 crore. While Rs 3,976.17 crore was spent from the fund in 2020-21, according to the latest audited statement of PM CARES Funds.  As on March 31, 2021, the Fund had an unspent balance of Rs 7,013.99 crore. The government has used a part of the money to buy medical equipment, including ventilators, to boost the battle against the COVID-19 and has also provided relief to migrants.

PMKSY extended till March 2026 with an allocation of Rs 4,600 crore

The ‘Pradhan Mantri Kisan Sampada Yojana (PMKSY)’ has been extended till March 2026 with an allocation of Rs 4,600 crore. The scheme is administered by the Ministry of Food Processing Industries. The scheme aims for the overall growth and development of the food processing sector.  In May 2017, the Central Government had launched SAMPADA (Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters) with an allocation of Rs 6,000 crore. The scheme was renamed as PMKSY in August 2017.  The scheme will boost the growth of the food processing sector but also help in providing better prices to farmers and creating huge employment opportunities.

India gets $339.55 billion FDI in the last 5 years, govt shares year-wise details

uring the last five financial years, Foreign Direct Investment (FDI) inflows worth $339.55 billion have been reported into India, the government said on Wednesday. "FDI inflows have shown a continuous increase from $45.15 billion in 2014-15 to $81.97 billion in 2020-21," it added. The government also mentioned investor-friendly policies allowing 100% FDI in most sectors under the Automatic route.

 

SIPs in mutual fund industry cross 5 crore mark for 1st time in Jan

short by Ashley Paul / 10:23 pm on 09 Feb 2022,Wednesday

Systematic Investment Plans (SIPs) in the mutual fund industry crossed the five crore mark for the first time in January this year. The industry added 14 lakh new SIPs in January, according to Association of Mutual Funds in India's data. The contribution of SIPs to the mutual fund industry in January stood at ₹11,516 crore.

Important Days

Safer Internet Day 2022 observed on 8 February

Safer Internet Day is observed every year on the second day of the second week of February with the aim of providing a safer and better internet, where every user gets to use the internet responsibly and without getting their data leaked.  This year February 8 is being celebrated as Safer Internet Day across the world. This year marks the 19th edition of Safer Internet Day with actions taking place right across the globe.  This year, the occasion is being marked under the theme ‘Together for a better internet’, calling upon all stakeholders to join together to make the internet a safer and better place for all, and especially for children and young people.  Safer Internet Day started as an initiative of the European Union’s (EU’s) SafeBorders project in 2004 and was taken up by the Insafe network as one of its earliest actions in 2005, according to its website.

Miscellaneous News

Kanchoth festival celebrated in Jammu and Kashmir

The ancient festival of Kanchoth is annually celebrated, mainly by the Nag followers, during the Shukla Paksha of Magh month which usually falls in January or February. The festival is celebrated with religious fervour across the Chenab valley region of Jammu and Kashmir (J&K).  The 3-day festival is celebrated by married women who pray for the long life of their husbands. Kanchoth or Gauri Tritya is widely celebrated in hilly kishtwar, Ramban and Doda of Jammu province.  The festival is celebrated across Bhaderwah (also known as mini-Kashmir), Kotli, Mathola, Ghata, Khakhal, Gupt Ganga, Chinnote, Kapra, Bhalra, Bheja, Chinchora and other regions.

 

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