NATIONAL UPDATES:
1.
GoI setting up National Land Monetisation Corporation: According to
Economic Survey, the government is setting up the National Land Monetisation
Corporation (NLMC) to carry out the monetization of the land and other non-core
assets. The initial authorized share capital of NLMC will be Rs 5000 crores and
subscribed share capital of ₹150 crores. So far, CPSEs have referred 3,400
acres of land and other non-core assets for monetization from CPSEs including
MTNL, BSNL, BPCL, B&R, BEML, HMT Ltd, Instrumentation Ltd. National Land
Monetisation Corporation (NLMC): The National Land Monetisation Corporation
(NLMC) is being set up in accordance with the Budget announcement. It is being
set up as a 100 per cent Government of India owned entity. The initial
authorised share capital will be Rs 5,000 crore while subscribed share capital
will be Rs 150 crore. It works as an asset manager for lands owned by central
government and central public sector enterprises (CPSEs). It has the freedom to
invest, lease or rent assets or monetise them based on suggestions by many
sources. It is free to develop assets for commercial or residential purposes.
2.
Sanctuaries in Gujarat, Uttar Pradesh listed as Ramsar sites: The Khijadiya Bird
Sanctuary near Jamnagar in Gujarat and Bakhira Wildlife Sanctuary in Uttar
Pradesh have been listed as Wetlands of International Importance by the Ramsar
Convention. With this, the total number of Ramsar sites in India goes up to 49.
Khijadiya has become the fourth wetland of Gujarat to get the Ramsar tag.
Nalsarovar Bird Sanctuary, Thol Wildlife Sanctuary and Wadhwana wetland are the
other Ramsar sites in the state. The last two were included in April last year.
About the Khijadiya Bird Sanctuary: Khijadia Wildlife
Sanctuary (Ramsar site No. 2464), a freshwater wetland near the coast of the
Gulf of Kutch, was formed following the creation of a bund (dike) in 1920 by
the then ruler of the erstwhile princely state of Nawanagar to protect
farmlands from saltwater ingress. The sanctuary is now part of Marine National
Park, Jamnagar, the first marine national park in the country.
About the Bakhira Wildlife Sanctuary: On the other
hand, Bakhira Wildlife Sanctuary (site no. 2465), a freshwater marsh in the
Sant Kabir Nagar district, is the largest natural floodplain wetland of eastern
Uttar Pradesh. The Sanctuary was established in 1980 and is protected under the
Wildlife Protection Act (1972); an “eco-sensitive zone” extends up to a
kilometre around its boundary.
3. Dr. Madan Mohan Tripathi joins as Director
General, NIELIT: Dr.
Madan Mohan Tripathi has joined as Director-General of the National Institute
of Electronics & Information Technology (NIELIT). Before joining NIELIT, Dr
Madan Mohan Tripathi was working as Professor at Delhi Technological University
(DTU), New Delhi. In DTU he also worked as Director Internal Quality Assurance
Cell (IQAC) and Coordinator of Intellectual Property Rights Cell.
About the NIELIT: National
Institute of Electronics & Information Technology (NIELIT) is an autonomous
body under the Ministry of Electronics & Information Technology (MeitY),
Government of India.
4.
India’s 1st-ever season style book written by Akash Kansal: India’s first-ever
season style book titled ‘The Class of 2006: Sneak Peek into the Misadventures
of the Great Indian Engineering Life’, written by Akash Kansal a management
professional. The book was virtually launched at one of the biggest book launch
ceremonies at IIT Kanpur, & Delhi Technological University. “The Class of
2006” consists of 18 different episodes that recall the times spent in College.
The book was released on Amazon Kindle by R. Madhavan, an Indian film actor,
writer, director, and producer.
The essence of the book: ‘The Class of
2006: Sneak Peek into the Misadventures of the Great Indian Engineering Life’
consists of 18 different episodes, each with a Learning Box, and is definitely
a good read to reminisce the times spent in college, especially for MBA,
Engineering college students and aspirants.
INTERNATIONAL UPDATES:
1.
Winter Olympics host China welcomes Year of Tiger: China is
celebrating the Spring Festival, it’s the most important annual festival as it
entered the Lunar new “Year of the Tiger”. Last year was celebrated as the
Lunar Year of the Ox. According to the Chinese Zodiac calendar, the Year of the
Ox has ended and the Year of the Tiger has begun from February 1, 2022, and
will end on January 21, 2023. In Chinese culture, the tiger symbolizes bravery,
vigor and strength and it is believed that it can lift people from adversity
and usher in final auspiciousness and peace. Each year is named after one of 12
signs of the Chinese zodiac in a repeating cycle. This year, Spring Festival
celebrations coincide with the Beijing Winter Olympics.
Note: China Capital: Beijing; China
Currency: Renminbi; China President: Xi Jinping.
2.
World Cancer Day:
4th February: World Cancer Day is
observed every year globally on 4th February by the Union for International
Cancer Control. By raising worldwide awareness, improving education and
catalysing personal, collective and government action, we are all working
together to reimagine a world where millions of preventable cancer deaths are
saved and access to life-saving cancer treatment and care is equitable for all
– no matter who you are or where you live. So this year’s World Cancer Day’s
theme, “Close the Care Gap”, is all about raising awareness of this equity gap
that affects almost everyone, in high as well as low- and middle-income
countries, and is costing lives.
History of the day: The day came into
existence on February 4, 2000, during the World Cancer Conference for the New
Millennium in Paris, France. Every year
since then, people across the world observe World Cancer Day with a different
theme to improve the quality of lives of cancer patients and to continue spread
awareness on cancer, its prevention and treatment.
3.
International Day of Human Fraternity: 4th February: The
‘International Day of Human Fraternity’ is celebrated across the world on 4th
February. The day aims to raise awareness about different cultures and
religions, or beliefs, and the promotion of tolerance; and to educate people
that tolerance, pluralistic tradition, mutual respect, and the diversity of
religions and beliefs promote human fraternity. It also aims to educate people
that tolerance, pluralistic tradition, mutual respect, and the diversity of
religions and beliefs promote human fraternity.
History of the day: The first
International Day of Human Fraternity was held in 2021. The UN General Assembly
adopted a resolution to declare 4 February as International Day of Human
Fraternity on 21 December 2020. The Day is a part of the ‘World Interfaith
Harmony Week’, observed during the first week of February, as proclaimed by UN
General Assembly in 2010.
OTHER UPDATES:
SPORTS
1.
New Zealand’s Daryl Mitchell named the ICC Spirit of Cricket Award 2021: New Zealand
cricketer, Daryl Mitchell has been named the winner of the International
Cricket Council (ICC) Spirit of Cricket Award 2021. This award is given to him
for his gesture of refusing to take a single in the high-pressure 2021 ICC
Men’s T20 World Cup Semi-Finals against England as he felt he had “obstructed”
the way of bowler Adil Rashid at the Sheikh Zayed Stadium in Abu Dhabi. He has
become the 4th New Zealand player to win the award after Daniel Vettori,
Brendon McCullum and Kane Williamson.
About the ICC Spirit of Cricket
Award:
The ICC Spirit of Cricket Award is annually awarded by the ICC to recognise the
player most notable for “upholding the ‘Spirit of the Game’”.
Note: ICC Chairman: Greg Barclay; ICC CEO:
Geoff Allardice; ICC Headquarters: Dubai, United Arab Emirates; ICC Founded: 15
June 1909.
BANKING AND FINANCE
1.
RBI cancels the licence of Nashik’s Independence Co-operative Bank Limited: The Reserve Bank of
India has cancelled the license of Independence Co-operative Bank Ltd., Nashik,
Maharashtra w.e.f February 03, 2022. The major reason for the cancellation of
the license by RBI is that bank does not have adequate capital and earning
prospects. This means that it does not comply with the provisions of Section
11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation
Act, 1949. What will happen to depositors’ money?
(1) The bank has stopped operation from the
close of business on February 3, putting depositors of the bank in trouble.
They would however receive up to Rs five lakh from Deposit Insurance and Credit
Guarantee Corporation (DICGC), after the bank’s liquidation.
(2) RBI has told the Commissioner for
Cooperation and Registrar of Cooperative Societies in Maharashtra to issue an
order for winding up the bank and appoint a liquidator. As per the data
submitted by the bank, more than 99 per cent of the depositors are entitled to
receive the full amount of their deposits from DICGC.
Note: DICGC Chairperson: Michael Patra;
DICGC Founded: 15 July 1978; DICGC Headquarters: Mumbai.
BUSINESS AND ECONOMY
1.
Crisil Report: India’s GDP expected to grow 7.8% in FY23: Domestic rating
agency CRISIL has estimated FY23 real GDP growth at 7.8 per cent as compared
with the 8.5 per cent projected in the Economic Survey. Estimating the growth
to slow to 7.8 per cent in FY23 from the 9.2 per cent in FY22. Finance Minister
Nirmala Sitharaman’s Budget proposals focused on loosening the purse strings by
boosting capital expenditure and going slow on fiscal consolidation are aimed
in the right direction. The agency said global growth is expected to slow this
year as major economies see a withdrawal of monetary and fiscal stimulus. It
will have a direct bearing on India’s growth prospects as exports have been a
key demand driver of domestic growth during the pandemic.
2.
Former RBI Governor Urjit Patel quits as Britannia’s Additional Director: Former Reserve
Bank of India (RBI) governor, Urjit Patel has resigned from the post of
non-executive and independent director of Britannia Industries Limited, citing
a full-time work assignment starting next month. He was a part of the Board of the
Company. The former governor also confirmed that there was no other reason
other than his new project for the resignation. Patel was recently appointed
vice president for investment operations in South Asia at the Beijing-based
Asian Infrastructure Investment Bank (AIIB). His appointment is effective from
1 February. As the 24th governor of RBI, Patel had succeeded Raghuram Rajan and
served as the governor of RBI from 2016-2018. Prior to that, he was RBI’s
deputy governor in charge of monetary policy.
3.
SBI tie-up with Tata Power for financing solar projects: State Bank of
India (SBI) has launched a dedicated centralized processing cell named ‘Surya
Shakti Cell’ with the objective of strengthening the existing financing
arrangement for solar power projects. SBI has collaborated with Tata Power
Solar Systems Ltd. (a Tata Power Company) for financing solar power projects.
The cell has been set up in the Ballard
Estate in Mumbai. The Surya Shakti Cell will process all the loan applications
for Solar Projects from across India by Tata Power Solar Systems Ltd., with a
maximum capacity of up to 1 MW. Loan applicants will include both business
entities as well as households. The bank aims to provide an end-to-end platform
for digital and hassle-free journeys to loan applicants for financing solar
projects. With this digital initiative, SBI will offer a complete solution at
competitive rates for solar projects.
Note: Tata Power Solar Systems Ltd. Headquarters: Mumbai; Tata Power Solar Systems Ltd. Founded: 1989.
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