NATIONAL UPDATES:
1.
India to replace diesel by renewable energy in agriculture by 2024: Union Power
Minister R K Singh has announced that India will achieve zero-diesel use in
agriculture and replace fossil fuel with renewable energy by 2024. For this,
states should develop action plans to achieve the assigned targets and specific
agencies dedicated to energy efficiency and conservation. This initiative is a
part of the government’s commitment to increase the share of non-fossil fuels
by 2030 and become a net-zero emitter by 2070. Union minister chaired a virtual
meeting with additional chief secretaries and principal secretaries of power in
states for collaboration between the Central and state governments for
achieving energy transition goals.
2.
Saubhagya Scheme: Rajasthan tops solar electrification Scheme: Under the Saubhagya
scheme, Rajasthan has the maximum number of households electrified through the
solar-based standalone system. In hill states of Himachal Pradesh and Sikkim
and the Union Territory of Jammu and Kashmir had nil beneficiaries under the
initiative. Under the Saubhagya Scheme, 2.817 crore households were electrified
up to March 31 last year, including 4.16 lakh through solar-based standalone
systems.
Under the Saubhagya scheme, as many as
1,23,682 households were electrified through the solar-based standalone system
in Rajasthan, followed by Chhattisgarh (65,373), Uttar Pradesh (53,234), Assam
(50,754), Bihar (39,100), Maharashtra (30,538), Odisha (13,735), Madhya Pradesh
(12,651), Power Minister R K Singh told the Lok Sabha.
Saubhagya scheme: The Hon’ble Prime
Minister launched the Saubhagya scheme on 25th September 2017 to achieve
universal household electrification covering every village and every district
in the country. Universal household electrification requires the creation of
electricity access through last-mile connectivity. Scheme outlay is 16,320
crore including Gross Budgetary Support of 12,320 crores.
3.
GoI allocates Rs 2.26 Crores for Telangana’s Medaram Jatara Festival 2022: The Ministry of
Tribal Affairs, Government of India, has sanctioned Rs. 2.26 Crores for Medaram
Jatara 2022 Festival in Telangana. In 2022, the festival is being held from
February 16 to 19, 2022. Medaram Jatara is the second-largest fair in India,
after the Kumbh Mela. Medaram Jatara is conducted in honour of the Goddesses
Sammakka and Saralamma. It was declared a State Festival in 1998.
The four-day tribal festival is celebrated
once in two years in the month of “Magha” (February) on the full moon day, in
Medaram Village of Mulugu district in Telangana. The festival is organised by
the second-largest Tribal Community of Telangana, the Koya tribe, in
collaboration with the Tribal Welfare Department, Government of Telangana.
Note: Telangana Capital: Hyderabad;
Telangana Governor: Tamilisai Soundararajan; Telangana Chief Minister: K.
Chandrashekar Rao.
4.
ISRO successfully launches earth observation satellite, EOS-04: Indian Space
Research Organisation (ISRO) successfully launched an Earth Observation
Satellite, EOS-04 and two small satellites into the intended orbit. This was
the first launch mission of ISRO in the year 2022. The satellites were launched
onboard the launch vehicle PSLV-C52 rocket from the First Launch Pad of Satish
Dhawan Space Centre at Sriharikota in Andhra Pradesh.
About Earth Observation Satellite
(EOS-04):
a)
EOS-04
is a Radar Imaging Satellite (RISAT) designed to provide high-quality images
under all weather conditions for applications such as agriculture, forestry,
and plantations, flood mapping, soil moisture & hydrology.
b)
The
satellite weighs about 1710 kg. It can generate 2280 W power. It has a mission
life of 10 years.
About co-passenger satellites:
a)
The
two small satellites included a student satellite (INSPIREsat-1), and a
technology demonstrator satellite (INS-2TD).
b)
INSPIREsat-1
has been developed by the Indian Institute of Space Science & Technology
(IIST) in association with the Laboratory of Atmospheric & Space Physics at
the University of Colorado, Boulder.
c)
INS-2TD
is a technology demonstrator satellite from ISRO. This is a precursor to the
India-Bhutan Joint Satellite (INS-2B).
Note: Chairman and Space Secretary of ISRO:
Dr S Somanath; ISRO Headquarters: Bengaluru, Karnataka; ISRO established: 15
August 1969.
5.
Dabur becomes first Indian plastic waste neutral’ FMCG Company: Dabur India has
become the first Indian consumer goods company to become completely plastic
waste neutral. It has done this by collecting, processing and recycling around
27,000 metric tonnes of post-consumer plastic waste during FY21-22. Dabur has
achieved the landmark of surpassing its plastic packaging usage with recycling.
Dabur’s Plastic Waste Management initiative was launched in 2017-18 as part of
the Plastic Waste Management (PWM) Rule.
Dabur has also announced the beginning of a
new ‘Save the Environment’ campaign in Himachal Pradesh to raise community
awareness about how to manage home plastic waste. They have also been working
with school children in towns and villages as part of this commitment,
educating them about different forms of garbage and the benefits of sorting
them at the source. They have been assisting government schools by providing
waste bins, sanitary facilities, and IEC (Information, Education, and
Communication) materials.
Note: Dabur India CEO: Mohit Malhotra;
Dabur India Headquarters: Ghaziabad; Dabur India Founder: S.K. Burman; Dabur
India Founded: 1884.
6.
Indian Railways to set up country’s biggest Wrestling Academy: Ministry of
Railways has approved to set up a state-of-art wrestling academy in Indian
Railways, at Kishanganj, Delhi. The wrestling academy will be the biggest in
India and equipped with advanced training facilities to promote the sports of wrestling
in the country. The project will be set up at an estimated cost of Rs 30.76
crores.
According to the ministry, the national
transporter has played a key role in promoting wrestling in the country and
most of the elite wrestlers in India are from Indian Railways. The academy will
offer the best sports facilities to sportspersons, and provide an opportunity
for many budding wrestlers to become champions in the coming time.
Note: Minister of Railways: Ashwini
Vaishnaw
INTERNATIONAL UPDATES:
1.
India ranks 3rd in 9th US Green Building Council: The US Green
Building Council (USGBC) has released the 9th annual ranking of top 10
countries outside of the United States (US) for Leadership in Energy and
Environmental Design (LEED) in 2021 in which India ranked 3rd with 146
projects. It has been topped by China with 1,077 LEED projects certified in
2021, which is followed by Canada at 2nd position with 205 projects. The
ranking highlights countries and regions outside the US that are doing good in
healthy, sustainable, and resilient building design, construction, and
operations.
About India’s ranking:
(1) As India becomes home to 146 more LEED
licensed buildings and spaces in 2021, it represents 2,818,436.08 Gross Square
Meters (GSM) of area.
(2) This marks an almost 10% enhance in
LEED licensed area in India from 2020 despite the ongoing pandemic India’s
total tasks underneath LEED stand at 1,649 buildings with total of 46.2 million
gross sq. meters.
Note: US Green Building Council President
and CEO: Peter Templeton; US Green Building Council Headquarter: Washington,
D.C., US.
2. A
book titled ‘How to Prevent the Next Pandemic’ by Bill Gates: A book titled ‘How
to Prevent the Next Pandemic’ has authored by Bill Gates will be published this
year in May 2022. In the book Bill Gates has written about specific steps that
can only stop future pandemics but, in the process, provide better health care
for everyone around the world. His last book, “How to Avoid a Climate Disaster:
The Solutions We Have and the Breakthroughs We Need”, was released in February
2021. The book, to be published by Penguin Random House internationally and
Knopf in the US.
OTHER UPDATES:
BANKING AND FINANCE
1.
Yes Bank launches ‘Agri Infinity’ programme: Private sector lender, Yes Bank has
launched an ‘Agri Infinity’ programme for digital financing solutions in the
food and agriculture sector ecosystem by mentoring entrepreneurial ventures in
this field. Agri-fintech start-ups working on financial innovations across the
food and agriculture value chain are eligible to apply under this programme and
can work with Yes Bank for digital solutions.
Through the initiative, a select cohort of
startups will not only receive mentoring by veteran bankers for experiential
co-development but also get access to YES BANK’s digital banking infrastructure
and network, collaborative opportunities to pilot new solutions and fundraising
advisory. Those involved in originations, farmer on-boarding, farmer KYC,
credit scoring, risk assessment, monitoring and mitigation, disbursement and
recovery solutions and cash management system, among others, can apply.
Note: Yes Bank Founded: 2004; Yes Bank
Headquarters: Mumbai, Maharashtra; Yes Bank CEO: Prashant Kumar; Yes Bank
Tagline: Experience Our Expertise.
BUSINESS AND ECONOMY
1.
Retail inflation rose to 6.01% in January, just above RBI’s upper limit: India’s retail
inflation, as measured by the consumer price index (CPI), accelerated to 6.01%
in the month of January, breaching the Reserve Bank of India (RBI) tolerance
band of 6%, albeit marginally. The surge in inflation print was driven by
higher consumer goods and telecom prices along with a comparatively low rate a
year ago.
Inflation, as measured by the consumer
price index (CPI) was 5.66% in the preceding month of December. The Central
bank’s monetary policy has been given the mandate to maintain annual inflation
at 4% until March 31, 2026, with an upper tolerance of 6% and a lower tolerance
of 2%.
2.
GoI reduces agri-cess for Crude Palm Oil from 7.5 percent to 5 percent: With a view to
provide further relief to consumers and to keep in check any further rise in
the prices of domestic edible oils, the Centre has reduced the agri-cess for
Crude Palm Oil from 7.5 per cent to 5 per cent. The current basic rate of
import duty of zero per cent on Crude Palm Oil, Crude Soyabean oil, and Crude
Sunflower Oil up to the 30th of September this year. This will give relief to
consumers and prevent a further rise in the price of domestic edible oils.
The 12.5 per cent import duty on refined
palm oils, 17.5 per cent on refined soyabean oil, and 17.5 per cent on refined
sunflower oil will continue in effect until September 30, 2022. Furthermore,
under the Essential Commodities Act of 1955, the government has set stock limit
levels on edible oils and oilseeds up to June 30th of this year.
AWARDS AND HONOURS
1.
RailTel gets ICAI award for excellence in financial reporting: RailTel has bagged
the ICAI award for excellence in financial reporting for the year 2020-21 in
Public Sector Entities Category. The company was adjudged as the winner in the
category “plaque”. Financial Reporting includes the preparation and
presentation of financial information. Effective Financial Reporting plays a
significant role in accelerating the economic growth of a country as the
information provided through annual reports enables the management and other
relevant stakeholders in taking various effective business, investment,
regulatory decisions.
About the award: The award was
given by the Institute of Chartered Accountants of India (ICAI), the premier
accounting body which has been holding the annual competition for these awards
since 1958. This award has been instituted with a view to promote better
standards in the preparation and presentation of information in the financial
statements.
2.
ICICI Bank’s Sandeep Bakhshi named Business Standard Banker of the Year
2020-21: Sandeep
Bakhshi has been named the Business Standard Banker of the Year 2020-21. He is
the managing director (MD) and chief executive officer (CEO) of ICICI Bank. The
winner was chosen by a jury of 5 members chaired by former Reserve Bank of
India deputy governor S S Mundra. For 2020-21, ICICI Bank reported a net profit
of Rs 16,193 crore against Rs 7,931 crore during the previous financial year.
The criteria used for selecting the
contenders were the following:
a)
Banks
with an asset size of Rs 50,000 crore and above as of March 2021.
b) 10 per cent or more growth in profits prior to provisioning in the past one-, two- and three-year periods. Only 10 banks qualified, and that was further brought down to seven.
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