NATIONAL UPDATES:
1.
Assam government declared the entire state as a “Disturbed Area 2022: The Assam
government has extended the contentious Armed Forces (Special Powers) Act, 1958
(AFSPA) in the state for six more months. The notification came into effect
from February 28. Initially, it was the Assam Disturbed Area Act of 1955 during
the agitation by Nagas in undivided Assam. This Act gave freehand to some
extent to the Army that was repealed with the incorporation of the Armed Forces
(Special Power) Act, 1958. AFSPA was imposed in Assam in November 1990 and has
been extended every six months since then after a review by the government.
About the AFSPA: AFSPA, which
gives sweeping powers to the security forces to maintain public order in
‘disturbed areas’, has been a contentious issue in the north-east states. Civil
society members and activists have claimed that AFSPA gives security personnel
a free hand to carry out excesses.
Note: Assam Capital: Dispur; Assam Chief
Minister: Himanta Biswa Sarma; Assam Governor: Jagadish Mukhi.
2.
GoI think tank, Niti Aayog developing National Gender Index: NITI Aayog is in
the process to develop a National Gender Index. The objective of the National
Gender Index is to measure the progress and identify the persisting gaps in
gender equality to make informed policy decisions. It will serve as a tool to
map the progress of India’s States and UTs on defined gender metrics and build
the foundation for positive change. The information was released in the Annual
Report 2021-22 of NITI Aayog.
Niti Aayog has also developed a draft State
Energy and Climate Index to assess the performance of states on indicators such
as discoms’ viability and competition; access, affordability and reliability of
energy; clean energy initiatives; energy efficiency; generation capacity; and
environmental sustainability and new initiatives. The index will help states to
efficiently manage their energy resources and provide better access to energy
to the people.
3.
Anup Jalota released book “Udaan Ek Majdoor Bachhe Ki” authored by Mithilesh
Tiwari: Bhajan
Samrat Anup Jalota has released the book “Udaan Ek Majdoor Bachhe Ki” by
Captain AD Manek in a glittering program organized by Shailesh B Tiwari of P
Club Education Pvt Ltd in Mumbai. The author of this book is Mithilesh Tiwari.
This book is about the life journey of Captain AD Manek, how he travelled from
zero to pinnacle in his career graph.
The family of Captain AD Manek is also
known as the Flying Family of India. His wife is a hobby flyer while his two
sons are professional pilots. One daughter-in-law is the air hostess and the
other daughter-in-law is the aircraft dispatcher. All 6 members of this family
are serving in the Indian Aviation Industry.
4.
Tamil Nadu chief minister MK Stalin’s autobiography “Ungalil Oruvan” launched: Congress leader
Rahul Gandhi launched the first volume of Tamil Nadu chief minister MK Stalin’s
autobiography Ungalil Oruvan (One Among You) in Chennai. The first part of the
autobiography contains his early life experiences. In it, he traces his school
and college days, adolescence, early political contributions, marital life and
the MISA struggle, recalling 23 years up to 1976.
5.
National Security Day: 4th of March: In India, March 4 is celebrated as National
Security Day (Rashtriya Suraksha Diwas) every year, in the honor of the Indian
Security Forces. The day aims to show gratitude to all the security forces,
including policemen, para-military forces, commandos, guards, army officers,
and other persons involved in security, who sacrifice their life in maintaining
the peace and security of the people of the country. Apart from this, National
Security Week 2022 is being celebrated from March 4 to March 10, 2022.
History of the day: 4 March also marks the
day when the National Security Council (NSC) of India was established, in 1966
by the Ministry of Labour under the Government of India. The first National
Security Day (NSD) was held in 1972.
Note: National Security Council of India
Founded: 19 November 1998; National Security Council of India head: Ajit Kumar Doval.
6.
National Safety Day: 4th of March: The National Safety Day (NSD) is celebrated
every year on the 4th of March to commemorate the foundation of the National
Safety Council (NSC) of India. The day aims to raise public awareness of all
safety principles, including road safety, workplace safety, human health
safety, and environmental safety. The year 2022 marks 51st NSD. Every year,
this day is celebrated with a different theme. This year, the National Safety
Council of India announced the theme to be ‘Nurture young minds – Develop
safety culture’.
Significance of the day: It is critical to
observe National Safety Day in order to ensure adequate workplace wellbeing.
The development of a proactive attitude toward safety, as well as methods for
identifying workplace dangers and reducing accidents and exposure to hazardous
circumstances and substances, is critical to every employee’s job satisfaction.
History of the day: The first
National Safety Day was observed in 1972. The National Safety Council was set
up on 4th March 1966 by the Ministry of Labour and Employment, to develop and
implement a voluntary routine in the areas of safety, health, and the
environment.
INTERNATIONAL UPDATES:
1.
US, EU, UK decided to eliminate selected Russian banks from SWIFT: Canada, U.S.A. and
their European allies have come to a conclusion to remove the key Russian banks
from the Interbank messaging system (IMS) of SWIFT. This is a very big step
that will cut off the country from much of the worldwide financial system.
KEY POINTS:
a)
The
major global powers issued a joint statement announcing this significant
retaliatory measure. It said, “This will ensure that these banks are
disconnected from the international financial system and harm their ability to
operate globally”.
b)
Russia’s
removal from SWIFT (Society for Worldwide Interbank Financial
Telecommunication) will mean that the Russian banks will not be able to
communicate securely with foreign banks.
c)
Previously,
Iran has been removed from SWIFT in 2014 following developments to its nuclear
program in Tehran.
d)
The
announcement will follow several rounds of joint sanctions that will be imposed
on Russia for its unprovoked attack on Ukraine.
e)
After
this announcement from the Major global powers backed SWIFT, Denys Shmyhal, who
is the Prime Minister of Ukraine, praised the measure in a tweet he wrote,
“Appreciate your support and real help in this dark time. Ukrainian people will
never forget this! Keep holding the line! We are on our land.”
f)
In
addition to this statement, the U.S.A. and its allies announced that they will
impose restrictive measures to prevent the central bank of Russia from
deploying its international reserves in ways that may undermine the sanctions
imposed on them.
SWIFT: SWIFT stands for
Society for Worldwide Interbank Financial Telecommunications and is an independent
enterprise, which is based in Belgium. SWIFT serves as an internal
communication mechanism between around 11,000 banks and financial institutions
for more than 200 countries and territories.
2.
IOC Withdraws Top Olympic Honour From Vladimir Putin: The International
Olympic Committee has stripped Russian President Vladimir Putin of the Olympic
Order award in response to the invasion of Ukraine. International Olympic
Committee urged sports federations and organisers to exclude Russian and
Belarusian athletes and officials from international events following Russia’s
invasion of Ukraine.
Russia’s participation in the World Cup
play-offs next month is also in doubt after FIFA plans to allow them to play on
neutral territory were dismissed as “unacceptable” by rivals. The IOC last week
urged all international sports federations to cancel forthcoming events in
Russia, angry at Moscow violating an “Olympic Truce” with its attack on
Ukraine.
Note: International Olympic
CommitteeHeadquarters: Lausanne, Switzerland; International Olympic Committee
President: Thomas Bach; International Olympic Committee Founded: 23 June 1894,
Paris, France.
3.
World Obesity Day: 4th March: World Obesity Day is observed every year
on March 04. It is observed to spread awareness about obesity and encourage
action towards its elimination. The day is organised by the World Obesity
Federation, a non-profit body that is in official relations with the World
Health Organisation. The theme of World Obesity Day 2022 is ‘Everybody Needs to
Act’. The campaign aims to improve the world’s understanding, prevention and
treatment of obesity.
World Obesity Day Significance: Obesity is one of
the biggest health crises in the world, affecting 800 million people with
millions more at risk, according to worldobesity.org. To spread awareness about
the same and encourage action towards its elimination.
World Obesity Day History: World Obesity Day
goes way back to the year 2015, wherein a non-profit organization worked
closely with World Health Organisation and Lancet Commission in helping spread
awareness. Later in 2016, the focus was shifted to childhood obesity, while
later in 2017, the idea was to treat obesity now and avoid consequences later.
OTHER UPDATES:
SPORTS
1.
31st Southeast Asian Games to be held in Vietnam: The 31st Southeast
Asian Games will be held in Vietnam from May 12 to 23, 2022. It is the biggest
sporting event of Southeast Asia and is a biennial event. The event was
originally scheduled to take place in November 2021 however it was postponed
due to the Covid pandemic. The Games will feature 40 sports with 526 events,
attracting around 10,000 participants, organisers announced at a press
conference here. The Vietnamese capital Hanoi will be the main venue alongside
11 neighbouring localities including Quang Ninh, Phu Tho and Bac Ninh, Xinhua
news agency reported. Moto of 31st Southeast Asian Games- “For a Stronger South
East Asia”.
Points to remember:
a)
In
2023, the Southeast Asian Games will be held at Phnom Penh, Cambodia.
b)
The
mascot of the 2021 Southeast Asian Games is “Sao La”, inspired by saola – a
rare mammal native to central Vietnam.
BANKING AND FINANCE
1.
Union Bank of India and Ambit Finvest tie-up: Ambit Finvest has
announced the signing of a co-lending agreement with Union Bank of India (UBI)
for financing to Micro, Small and Medium Enterprise (MSME) customers. Ambit
Finvest is the Ambit Group’s non-deposit-taking Non-Banking Financial Company
(NBFC). This collaboration will enable underwriting for businesses in 11 states
now served by Ambit Finvest. Ambit Finvest and Union Bank of India hope to
speed up credit disbursement across multiple geographies with this partnership,
according to Sanjay Dhoka, COO and CFO of Ambit Finvest.
KEY POINTS:
a)
MSMEs
that face higher interest rates or are unable to access banking services would
benefit from lower rates of interest, which will translate into cheaper cost of
funds, allowing them to deploy capital more effectively in their businesses,
according to the company’s statement.
b)
Lal
Singh, Union Bank’s CGM, said that the collaboration with Ambit Finvest Pvt
Ltd. is part of UBI’s aim to create synergy between the two organisations,
allowing us to better serve the most deserving and underserved enterprises.
c)
Lal
Singh also added that the effort is part of Union Bank’s commitment to support
MSMEs by offering tailored financial solutions and speeding MSMEs’ growth in
order to contribute to the country’s economic development
d)
Ambit
Finvest will be able to further grow its reach in the MSME category as a result
of its co-lending agreement with a large organisation like Union Bank of India,
according to Dhoka.
BUSINESS AND ECONOMY
1.
GST collections in Feb stand at Rs 1.3L cr: Goods and Services Tax (GST)
collection crossed the Rs 1.30-lakh crores mark for the fifth time in February
2022. The gross GST revenue collected in the month of February 2022 is Rs
1,33,026 crore of which CGST is Rs 24,435 crore, SGST is Rs 30,779 crore, IGST is
Rs 67,471crore (including Rs 33,837 crores collected on import of goods) and
cess is Rs 10,340 crore (including ₹638 crores collected on import of goods).
The February mop-up was impacted by the
Omicron wave that swept through the country and hence, the gross sales tax
collection was lower than the record Rs 1,40,986 crore netted in January. The
revenues for the month of February 2022 are 18% higher than the GST revenues in
the same month last year and 26% higher than the GST revenues in February 2020.
2. T
S Ramakrishnan named as new MD and CEO of LIC Mutual Fund: LIC Mutual Fund
has announced the appointment of TS Ramakrishnan as its Managing Director &
CEO, effective. Ramakrishnan, as the MD and CEO, LIC Mutual Fund Asset
Management, will succeed Dinesh Pangtey, its former Wholetime Director and CEO.
About the LIC Mutual Fund: LIC Mutual Fund
is one of the oldest and leading mutual funds operating in India. offer a
complete basket of 26 products covering debt, equity, hybrid, passive and
solution-oriented schemes. The Average Assets under Management (AAuM) is Rs
18,625.52 crores as on January 31, 2022.
DEFENCE
1.
Indian Air Force to conduct Exercise Vayu Shakti at Pokharan range, Rajasthan: Indian Air Force
(IAF) will conduct the Exercise Vayu Shakti that will take place at Pokharan
range in Jaisalmer, Rajasthan on March 7. Prime Minister Narendra Modi will be
the Chief Guest of this event. A total of 148 aircraft of the Indian Air Force
(IAF) will participate in this exercise. Rafale aircraft will participate for
the first time in this exercise. Exercise Vayu Shakti is organised by Indian
Air Force once in every three years. The last Vayu Shakti Exercise took place
in 2019.
Note: Indian Airforce founded: 8 October 1932; Indian Airforce Headquarters: New Delhi; Indian Airforce Chief of Air Staff: Vivek Ram Chaudhari.
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