Daily GK Update- 20th Feb, 2022

 

NATIONAL UPDATES:

 

1. FAITH releases India tourism vision document 2035: Federation of Associations in Indian Tourism & Hospitality (FAITH) has released the FAITH 2035 vision document containing goals and an execution path for making Indian tourism preferred and loved by the world by the year 2035. The vision document has been launched commemorating the 75th year of Indian independence. It aims to position tourism as a ‘Social-Economic Job and Infrastructure creator for India’ as well as ‘to be a role model for creating Sustainable and Inclusive Ecosystem’.

FAITH is the policy federation of all the national associations representing the complete tourism, travel and hospitality industry of India. It aims to position tourism as a ‘Social-Economic Job and Infrastructure creator for India’ as well as ‘to be a role model for creating Sustainable and Inclusive Ecosystem’.

Note: Nakul Anand is the chairman of FAITH.

 

2. Kerala’s first Caravan Park to come up in Vagamon: Kerala’s first Caravan park is all set to come up in Vagamon, a scenic hill station located in the Idukki district. The park, as part of the state government’s new Caravan Tourism policy, would be thrown open to travellers. Caravan Tourism was introduced by the state Tourism department as a safe means for holidaying at a time when people are unable to step out or travel due to the outbreak of COVID-19.

To meet the rising demands and preferences of tourists in the post-pandemic world, Kerala had announced a comprehensive, stakeholder-friendly Caravan Tourism Policy, promising the visitors safe, customized and closest-to-nature travel experience. Under the initiative, there will be two types of caravans. In one model, two guests shall be accommodated, while the other is for a family of four, department sources said.

About the caravans: The tourism caravans would have all the necessary amenities for a comfortable stay such as sofa-cum-bed, kitchenette with fridge and microwave oven, dining table, toilet cubicle, partition behind the driver, Air-conditioner, internet connectivity, audio-video facilities, charging system and GPS.

Note: Kerala Capital: Thiruvananthapuram; Kerala Governor: Arif Mohammad Khan; Kerala Chief Minister: Pinarayi Vijayan.

 

3. Water Taxi Service Flagged Off In Mumbai: Union Minister of Ports, Shipping and Waterways & AYUSH, Sarbananda Sonowal virtually flagged off the ‘Most Awaited’ Water Taxi for citizens of Mumbai, Maharashtra. The Water Taxi services will commence from the Domestic Cruise Terminal (DCT) and will also connect nearby locations at Nerul, Belapur, Elephanta Island and JNPT. The service promises a comfortable, stress-free journey, is time-saving and promotes eco-friendly transport.”

The Ministry also informed that the newly constructed Belapur jetty, built at a cost of Rs. 8.37 crore was funded in the 50-50 model under the Sagarmala scheme of the Ministry of Ports, Shipping and Waterways. “The new jetty will enable movement of vessels to locations like Bhaucha Dhakka, Mandwa, Elephanta and Karanja.

Note: Maharashtra Governor: Bhagat Singh Koshyari; Maharashtra Capital: Mumbai; Maharashtra Chief Minister: Uddhav Thackeray.

 

4. G Ashok Kumar named as India’s first national maritime security coordinator: Retired Vice Admiral, G Ashok Kumar has been appointed as India’s first national maritime security coordinator by the government. The government of India has taken the decisive move to ensure reliability on security and its objective to strengthen the country’s maritime security. The appointment of G Ashok Kumar, who is a former Navy vice chief, is seen as part of India’s consistent efforts to bolster its maritime security following the 26/11 Mumbai terror attack 14 years back when a group of sea-borne terrorists struck at the heart of the country’s financial capital.

The NMSC (National Maritime Security Coordinator) will be working with coordination with the National Security Council Secretariat which is headed by NSA Ajit Doval. The main task will be given to NMSC to make coordination among the Indian Navy, the Coast Guard, security agencies those tangled in coastal and maritime security and 13 coastal states and Union Territories.

 

5. A book titled “Dignity in a Digital Age: Making Tech Work for All of Us”: A new book titled “Dignity in a Digital Age: Making Tech Work for All of Us” has authored by Ro Khanna released. The book highlights the effects of changing lifestyle patterns of Americans due to technological progress. It also mentioned about the digital divide i.e., unequal access to technology and revenue, as it is one of the most pressing issues faced by the United States. Ro Khanna is an Indian-American who is a US Congressman representing the California district that includes the Silicon Valley region.

 

INTERNATIONAL UPDATES:

 

1. Nepal will become 1st country to deploy India’s UPI platform: Nepal will be the first country to adopt India’s UPI system, which will play a pivotal role in transforming the digital economy of the neighbouring country, the National Payments Corporation of India (NPCI). NPCI International Payments Ltd (NIPL), the international arm of NPCI, has joined hands with Gateway Payments Service (GPS) & Manam Infotech to provide the services. GPS is the authorized payment system operator in Nepal. Manam Infotech will deploy Unified Payments Interface (UPI) in Nepal.

The collaboration will serve the larger digital public good in Nepal and bolster interoperable real-time person-to-person (P2P) and person-to-merchant (P2M) transactions in the neighbouring country. Nepal shall be the first country outside of India to adopt UPI as the payments platform driving the digitalization of cash transactions and furthering the vision and objectives of the Nepal Government and Nepal Rastra Bank as the Central bank.

Note: Nepal Capital: Kathmandu; Nepal Currency: Nepalese rupee; Nepal President: Bidhya Devi Bhandari; Nepal Prime Minister: Sher Bahadur Deuba.

 

2. World Day of Social Justice: 20th February: World Day of Social Justice is celebrated annually all over the world on 20 February. The International Labour Organization unanimously adopted the ILO Declaration on Social Justice for a Fair Globalization on 10 June 2008. Social justice is an underlying principle for peaceful and prosperous coexistence within and among nations. World Day of Social Justice 2022 Theme: Achieving Social Justice through Formal Employment.

History of the Days: The International Labour Organization unanimously adopted the ILO Declaration on Social Justice for a Fair Globalization on 10 June 2008. This is the third major statement of principles and policies adopted by the International Labour Conference since the ILO’s Constitution of 1919. It builds on the Philadelphia Declaration of 1944 and the Declaration on Fundamental Principles and Rights at Work of 1998. The 2008 Declaration expresses the contemporary vision of the ILO’s mandate in the era of globalization.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. RBI extended deadline for NBFCs to meet new NPA upgradation norms: Reserve Bank of India (RBI) has extended the deadline for non-banking financial companies (NBFCs) to comply with new Non-Performing Assets (NPAs) classification norms (the norms are issued by RBI in November 2021) to September 2022 from the earlier deadline of March 2022. As per the ‘Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances – Clarifications’, which was issued by RBI on November 15, 2021, the loan accounts that are classified as NPAs could be upgraded as ‘standard’ assets only if entire arrears of interest and principal are paid by the borrower.

RBI’s Clarification:

(1)    Currently, RBI has clarified that, the definition of ‘out of order’ as applicable to all loan products being offered as an OD facility, including those not meant for business purposes and/or which entail interest repayments as the only credits.

(2)    The ‘90 days period’ for determination of the ‘out of order’ status of a Cash credit/Overdraft (CC/OD) account should be inclusive of the day for which the day-end process is being run.

 

BUSINESS AND ECONOMY

 

1. Twitter tieup with Paytm to boost its ‘Tips’ feature in India: Twitter Inc has partnered with Paytm’s payment gateway to improve the support for its ‘Tips’ feature in India. With this partnership, Twitter users will be able to use the payments facility of Paytm, including its Paytm digital wallet, Paytm Postpaid (buy-now-pay-later service), debit and credit cards, and net banking. The feature was announced last year and is one of the company’s many efforts to introduce monetisation on the platform.

Tips feature of Twitter: Using the Tips feature, users can send payments to their favourite content creators on Twitter. Tips is available since November to all Twitter users above 18 years of age in India. It is available in Indian languages including Bengali, Gujarati, Hindi, Kannada, Marathi and Tamil.

Note: Twitter CEO: Parag Agrawal; Twitter formed: 21 March 2006; Headquarters of Twitter: San Francisco, California, United States.

 

2. Shah Rukh Khan named as Brand Ambassador of Gaming app A23: A23, the gaming application owned by Head Digital Works, an online skill gaming company, has named in Bollywood actor Shah Rukh Khan as its brand ambassador. Shahrukh Khan will feature in A23’s ‘Chalo Saath Khele’ campaign, along with a first of its kind responsible gaming campaign, which showcases all the multi-gaming platforms of A23 such as carom, fantasy sports, pool and rummy, among others.

As the brand ambassador, Shah Rukh will support to elevate the brand among Indians who relate to using their skills to win. According to the Federation of Indian Chambers of Commerce and Industry’s gaming committee, India has become the largest fantasy sports market in the world with over 13 crore users playing fantasy sports.

 

AWARDS AND HONOURS

 

1. 17th IBA’s Annual Banking Technology Awards 2021 announced: Indian Banks’ Association (IBA) has announced the IBA’s 17th Annual Banking Technology Awards 2021. In total South Indian Bank has won 6 awards in the event. This year’s IBA Awards celebrating “Next Gen Banking” has recognized technologies and practices in the banking industry that have demonstrated a high degree of innovation over the past year. The list of winners in different categories is given below:

Best Technology Bank of the Year:

a)      In Large Banks segment: Bank of Baroda

b)      In Small Banks segment: The South Indian Bank

c)       In Foreign Banks segment: Citibank N.A.

d)      Regional Rural Banks: Baroda Rajasthan Kshetriya Gramin

Best Digital Financial Inclusion Initiatives:

a)      Large Banks: State Bank of India

b)      Small Banks: The Jammu & Kashmir Bank

c)       Regional Rural Banks: Baroda Rajasthan Kshetriya Gramin

Best Payments Initiatives:

a)      Public Banks: State Bank of India

b)      Private Banks: ICICI Bank

Best Fintech Adoption:

a)      Large Banks: ICICI Bank

b)      Medium Banks: Federal Bank

c)       Small Banks: The South Indian Bank

d)      Regional Rural Banks: Baroda Rajasthan Kshetriya Gramin

Best Use of AI/ ML T & Data:

a)      Large Banks: ICICI Bank

b)      Small Banks: The South Indian Bank

c)       Regional Rural Banks: Telangana Grameena Bank

Best IT Risk & Cyber Security Initiatives:

a)      Large Banks: Union Bank of India

b)      Medium Banks: Yes Bank

c)       Small Banks: The South Indian Bank

d)      Foreign Banks: The Hongkong & Shanghai Banking Corporation Ltd

e)      Regional Rural Banks: Baroda Rajasthan Kshetriya Gramin

f)        Co-operative Banks: The Saraswat Coop bank

g)      Small Finance/Payments Banks: Ujjivan Small Finance Bank

Cloud Adoption:

a)      Large Banks: Union Bank of India

b)      Medium Banks: Yes Bank

c)       Small Banks: Karur Vysya Bank

d)      Foreign Banks: Citi bank N.A

e)      Regional Rural Bank: Baroda Rajasthan Kshetriya Gramin

Note: Indian Banks’ Association Established: 1946; Indian Banks’ Association currently has 247 banking companies as members; Indian Banks’ Association Chairman: Rajkiran Rai (MD & CEO of Union Bank of India).

 

2. Karnataka Bank bags three banking tech awards: Karnataka Bank has bagged three awards at the 17th Annual Banking Technology Conference and Awards: 2020-21 Next-Gen Banking, instituted by Indian Banks’ Association (IBA). The bank has won the awards under categories: Best Technology Bank of the Year; Best Fintech Adoption; and Best Use of AI/ML & Data Analytics — all runner-ups. With this focus on technology and digital transformation, the bank endeavours to emerge as ‘Digital Bank of Future’ all the while retaining its core values and identity built on more than 98 years of purposeful banking history.

Note: Karnataka Bank Founded: 18 February 1924; Karnataka Bank Headquarters: Mangaluru, Karnataka; Karnataka Bank MD & CEO: Mahabaleshwara M. S.

Daily GK Update- 19th Feb, 2022

 

NATIONAL UPDATES:

 

1. Government approves ‘New India Literacy Programme’ for Education of adults: Ministry of Education has approved a new scheme named “New India Literacy Programme” for the period FYs 2022-2027 to cover all the aspects of Adult Education. The scheme aims to align Adult Education will all aspects of National Education Policy 2020 and Budget Announcements 2021-22. The government has now replaced the term “Adult Education” as ‘Education for All’ in the country.

About the scheme:

(1)    The total outlay of the “New India Literacy Programme” is Rs.1037.90 crore for FYs 2022-27. (which includes the Central share of Rs.700 crore and State share of Rs.337.90 crore respectively).

(2)    The scheme will cover non-literates of the age of 15 years and above in all states/UTs in the country.

(3)    As per Census 2011, the absolute number of non-literates of the country in 15 years and above age group is 25.76 crore (Male 9.08 crore, Female 16.68 crore).

 

2. Narcotics Control Bureau organises “Darkathon-2022”: The Narcotics Control Bureau (NCB) is organising a “Darkathon-2022” to find solutions to counter drug trafficking through the darknet. The initiative aims at involving students, youth and technical experts to find effective solutions to unravel the anonymity of darknet markets. The agency recently smashed three groups of drug peddlers that were operating on the network that is accessed through encryption software which enables anonymity of users.

The prize money for the first winner is Rs 2.50 lakh, the runner-up would get Rs 2 lakh and the third winner Rs 1.50 lakh. The consolation prize for the 4th and 5th place is Rs 25,000 each. The online registration will continue till March 31 through https://ncb.cyberchallenge.in.

Note: Narcotics Control Bureau Director-General: Satya Narayan Pradhan; Narcotics Control Bureau Headquarters: New Delhi; Narcotics Control Bureau Founded: 1986.

 

3. Social Justice Ministry launches Scheme for Economic Empowerment of DNTs: Union Minister of Social Justice and Empowerment, Dr Virendra Kumar has launched a central sector scheme named the Scheme for Economic Empowerment for DNTs, (SEED) at Dr Ambedkar International Centre, New Delhi. The total financial outlay for SEED Scheme is approximately Rs 200 crore to be spent over a period of 5 years starting Financial Year 2021-22 to 2025-26. The objective of SEED is the welfare of De-notified, Nomadic and Semi Nomadic tribal Communities (DNT/NT/SNT), which are the most neglected, marginalized and economically and socially deprived communities.

The scheme will have the following four components:

(1)    To provide coaching of good quality for DNT/NT/SNT candidates to enable them to appear in competitive examinations.

(2)    To provide health insurance to DNT/NT/SNT Communities.

(3)    To facilitate livelihoods initiative at the community level to build and strengthen small clusters of DNT/NT/SNT Communities institutions.

(4)    To provide financial assistance for the construction of houses to members of the DNT/NT/SNT Communities.

 

4. 7th Soil Health Card Day: 19th February: Every year India observes the Soil Health Card Day on 19 February to commemorate the launch of the Soil Health Card (SHC) Scheme, and create awareness about the benefits of the scheme. 2022 marks the seventh year of the launch of the SHC Scheme. The scheme aims at issuing soil health cards to all farmers every two years. Prime Minister Narendra Modi launched the Soil Health Card (SHC) Scheme on 19th February 2015 at Suratgarh in Rajasthan.

About the Soil Health Card (SHC) Scheme: The card would provide details about the nutritional deficiencies in the soil so that the farmers can supplement the soil with suitable fertilizers and increase the yields. The scheme has been introduced to assist State Governments to issue Soil Health Cards to all farmers in the country. It provides information to farmers on the nutrient status of their soil along with recommendations on the appropriate dosage of nutrients to be applied for improving soil health and its fertility.

 

5. Bihar ropes in Manoj Tiwari as brand ambassador for Khadi: Bhojpuri singer and BJP MP, Manoj Tiwari will be the brand ambassador of Khadi and other handicrafts of Bihar. He will be the “brand ambassador” for Khadi and other handicrafts of Bihar, state minister Syed Shahnawaz Hussain announced. Manoj Tiwari will promote the use of Khadi fabric, which was popularized by Mahatma Gandhi during India’s Independence movement. Tiwari, who has lent his voice to innumerable foot-tapping numbers, including the “Gangs of Wasseypur” chartbuster “Jiya ho Bihar ke lala”.

Note: Bihar Governor: Phagu Chauhan; Bihar Capital: Patna; Bihar Chief Minister: Nitish Kumar.

 

INTERNATIONAL UPDATES:

 

1. US-Bangladesh to conduct joint air exercise ‘Cope South 22’: The air forces of Bangladesh and the United States will conduct a joint tactical airlift exercise ‘Cope South 22’. The six days exercise has been sponsored by Pacific Air Forces (PACAF). The bilateral exercise will be held at Bangladesh Air Force (BAF) Kurmitola Cantonment, Dhaka; and Operating Location-Alpha, Sylhet, Bangladesh.

The goals of the Pacific Air Forces-sponsored bilateral tactical airlift exercise include improving interoperability with the Bangladesh Air Force and supporting the armed forces of Bangladesh’s long-term modernisation efforts in order to maintain regional stability. The goal of the exercise is bolstering bilateral ties between the two countries through tactical airlift sorties and subject-matter expert exchanges.

 

2. A book titled ‘Humane: How the United States Abandoned Peace and Reinvented War’ released: A new book titled “Humane: How the United States Abandoned Peace and Reinvented War” authored by Samuel Moyn was released. Samuel Moyn is the Professor of Jurisprudence at Yale Law School and a professor of History at Yale University. This provocative book argues about the endless wars the USA created in the past including Vietnam War (1955-1975), Korean War (1950-1953), World War II (1939-1945) etc and this development might not represent progress at all. The book highlights the United States of America (USA) strategy on fighting wars and how armed combat was transformed from an imperfect tool for resolving disputes into an integral component of the modern condition.

 

3. World Pangolin Day: 19th February: World Pangolin Day is celebrated on the “Third Saturday of February” every year. In 2022, the annual World Pangolin Day is being celebrated on 19 February 2022. It marks the 11th edition of the event. The day aims to raise awareness about these unique mammals and speed up conservation efforts. Pangolin numbers are rapidly declining in Asia and Africa.

 

OTHER UPDATES:

 

SPORTS

 

1. Haryana Men’s & Kerala Women’s Team wins Senior National Volleyball Championship: Haryana team defeated the Indian Railway 3-0, to win the Men’s title in Senior National Volleyball Championship 2021-22. Similarly, in the women’s category, the Kerala team defeated the Indian Railway 3-1, to lift the trophy. The 70th Senior National Volleyball (Men & Women) Championship 2021-22 was held at the Biju Patnaik Indoor Stadium, KIIT Deemed to be University, Bhubaneswar.

Achyuta Samanta, Founder of KIIT (Kalinga Institute of Industrial Technology) & KISS (Kalinga Institute of Social Sciences) attended the event and handed over the trophies to the winners.

 

BANKING AND FINANCE

 

1. JPMorgan becomes first bank to enter the metaverse: JPMorgan has become the world’s first bank to set up shop in the metaverse. The largest bank in the US has opened a lounge in the blockchain-based world Decentraland. Users can create their virtual avatars, build virtual spaces and roam in the lounge christened ‘Onyx Lounge’ after its suit of Ethereum-based services. The lounge also features a digital image of the bank’s CEO Jamie Dimon.

What is Metaverse?

Metaverse is a virtual universe where users can do multiple activities like socialising, shopping or even attending events through their avatar. Augmented Reality (AR) and Virtual Reality (VR) headsets are becoming more pocket-friendly, and both technologies have together contributed to a significantly enhanced user experience.

Note: JPMorgan CEO: Jamie Dimon (31 Dec 2005–); JPMorgan Founded: 1 December 2000.

 

BUSINESS AND ECONOMY

 

1. India’s wholesale inflation declines to 12.96% in January: India’s wholesale inflation has eased to 12.96 % in January from 13.56 % in the previous month. The Wholesale Price Index (WPI) based inflation has declined consistently in recent months. It fell from 14.87 % in November 2021 to 13.56 % in December 2021 and further to 12.96 % in January 2022. However, inflation still remains at an elevated level and is a matter of concern for economic policymakers.

Key points:

(1)    The high rate of inflation in January 2022 is primarily due to rise in prices of mineral oils, crude petroleum & natural gas, basic metals, chemicals, and chemical products, food articles etc as compared the corresponding month of the previous year”.

(2)    Wholesale food inflation hardened during the month of January. The rate of inflation based on the WPI Food Index increased marginally from 9.24 % in December 2021 to 9.55 % in January 2022.

(3)    Prices of Minerals rose by 11.08 % and non-food articles became costlier by 0.37 % in January 2022 as compared to December 2021.

 

2. Jio Platforms picks up 25% stake in US-based tech startup TWO Platforms: Jio Platforms has picked up a 25% stake in US-based deep-tech startup company TWO Platforms for $15 million. Two Platforms is an artificial reality company that focuses on building interactive and immersive AI experiences. The two companies have joined hands to fast track the adoption of new technologies and build disruptive technologies such as AI, metaverse and mixed realities.

About the TWO’s platform: TWO’s platform enables real-time AI voice and video calls, digital humans, immersive spaces and lifelike gaming. It plans to bring its interactive AI technologies first to consumer applications followed by entertainment and gaming, as well as enterprise solutions including retail, services, education, health and wellness. The platform was founded by Indian-origin computer scientist Pranav Mistry.

 

3. SIDBI launches ‘waste to wealth creation’ programme 2022: Small Industries Development Bank of India (SIDBI) has launched the ‘Waste to Wealth Creation’ programme for women in the Sundarbans in West Bengal. In this, the women will make ornaments and showpieces from the fish scales. SIDBI will extend benefits to 50 women indirectly generating revenues from alternate livelihoods. Under this programme, later, these women are expected to become a trainer for replicating and disseminating the knowledge among other aspirants. This is a part of mission Swavalamban of SIDBI that aims to support artisans to become sustainable.

Note: SIDBI Founded: 2 April 1990; SIDBI Headquarters: Lucknow; SIDBI Chairman & MD: Sivasubramanian Ramann.

 

OBITUARIES

 

1. Noted Kannada writer and poet Chennaveera Kanavi passes away: Channaveera Kanavi, an iconic poet and writer in the Kannada language, has passed away. He was 93. He was often referred to as ‘Samanvaya Kavi’ (Poet of Reconciliation). Kanavi received the Sahitya Akademi Award in 1981 for his work Jeeva Dhwani (Poetry).

About the Channaveera Kanavi: Born on June 18, 1928, at Hombal village in Gadag district (erstwhile undivided Dharwad district) to Sakkreppa ‘Master’, a teacher, and Parvathamma, Mr Kanavi bloomed into a poet at Karnatak College under the guidance of then principal V.K. Gokak, a Jnanpith Award winner. He joined the publication wing of Karnatak University as secretary. He served the university for 31 years and retired as director of the publication wing in 1983.

Daily GK Update- 18th Feb, 2022

 

NATIONAL UPDATES:

 

1. Union Minister RK Singh co-chairs 4th India-Australia Energy Dialogue: The 4th India-Australia Energy Dialogue was co-chaired by Union Minister for Power and New & Renewable Energy, RK Singh and Australian Energy and Emissions Reduction Minister Angus Taylor. Energy Transition was a major area of discussion in the dialogue and both the Energy Ministers. Energy Transition activities in their respective countries with a focus on renewables, energy efficiency, storage, EVs, critical minerals, mining etc.

The need of Climate Finance was also highlighted by India for meeting the Energy Transition goals of developing countries. Both the countries signed a Letter of Intent (LoI) for working towards reducing the cost of new and renewable energy technologies and scaling up their deployment to reduce global emissions. Apart from the power sector, there are many desirable areas of cooperation agreed under the other JWGs like reducing costs of Green Hydrogen; cooperation in the sphere of coal-based energy security and resource deployment; investment opportunities in the minerals sector; exploring the potential for an LNG Partnership, among other areas.

 

2. TERI’s World Sustainable Development Summit begins: The Prime Minister, Narendra Modi has delivered the inaugural address at The Energy and Resources Institute’s (TERI) World Sustainable Development Summit. Mr Luis Abinader, President of the Dominican Republic, Dr Mohamed Irfaan Ali, President of the Cooperative Republic of Guyana, Ms Amina J Mohammed, Deputy Secretary-General, United Nations and Union Minister Shri Bhupender Yadav were among those present on the occasion. The 21st edition of WSDS is scheduled from 16th-18th February 2022. The theme for this year’s summit is Towards a Resilient Planet: Ensuring a Sustainable and Equitable Future.

Key points of the PM Modi address:

(1) The Prime Minister recalled that Environment and sustainable development have been key focus areas for him all through his 20 years in office, first in Gujarat and now at the national level.

(2) The Prime Minister informed about the LED bulbs distribution scheme that has been running for over seven years, has helped save more than 220 billion units of electricity and 180 billion tonnes of carbon dioxide emissions per year.

(3) He encouraged academic and research institutes like TERI to come up with scalable solutions to realize the potential of green hydrogen.

 

3. Govt of India bans 54 apps of Chinese origin: The government of India has banned 54 apps of Chinese origin citing security concerns. The apps include Sea Ltd.’s marquee game Free Fire and other apps related to tech firms like Tencent, Alibaba and NetEase. The apps were banned by the Ministry of Electronics and Information Technology are re-branded versions of apps banned by India in 2020. Free Fire is often compared with PUBG. It is among the world’s most popular mobile games. Under Section 69A of the Information Technology (IT) Act, 2000 provides government power to issue directions for blocking public access of any information through any computer resource. This section allows the government to block websites.

 

4. LAHDC launched “Kunsnyom scheme” for differently abled persons: Ladakh Autonomous Hill Development Council (LAHDC), Leh has launched Kunsnyoms scheme for differently-abled persons. Kunsnyoms meant Equal for All, Fair for All, aims inclusive and accessible Ladakh. Under the new scheme, Leh Hill council is providing assistive devices, technologies to needy people at 90 per cent subsidy.

About the schemes: Launching the new scheme, LAHDC Leh Chief Executive Councillor and Chairman, Mr Tashi Gyalson and his executive councillors have handed over 28 tri scooters, battery-run wheelchairs, walking aids and other aids required for the special needs of the individuals. After becoming Union Territory, financially empowered with sufficient allocations of budget, the Hill Councils in Ladakh are utilizing the funds for welfare schemes.

Note: Ladakh (UT) Lieutenant Governor: Radha Krishna Mathur.

 

5. IAS Officer Vineet Joshi named as Chairman of CBSE: IAS Vineet Joshi has been appointed as the new Chairman of the Central Board of Secondary Education (CBSE). He replaces IAS Manoj Ahuja, who has been appointed as the Officer on Special Duty (OSD) in the Department of Agriculture and Farmers Welfare. Mr Joshi, a 1992-batch IAS officer of the Manipur cadre, is an Additional Secretary, Department of Higher Education, under the Ministry of Education. He is also the Director-General of the National Testing Agency (NTA). In 2010 as well he got the responsibility of CBSE chairman.

Note: CBSE Head Office: Delhi; CBSE Founded: 3 November 1962.

 

INTERNATIONAL UPDATES:

 

1. World Health Organisation launches Quit Tobacco App: World Health Organization (WHO) South-East Asia Region (SEAR) has launched a ‘Quit Tobacco App’. This application helps people to give up the use of tobacco in all forms, including smokeless and other newer products. The App was launched by Dr Poonam Khetrapal Singh, Regional Director, WHO-SEAR, during WHO’s year-long ‘Commit to quit’ campaign, is the latest tobacco control initiative by the WHO South-East Asia Region.

The app, the first such by WHO, and the first that targets all forms of tobacco, helps users to identify the triggers, set their targets, manage cravings, and stay focused to quit tobacco. Tobacco is the world’s leading cause of preventable death and kills nearly 8 million persons every year. It claims 1.6 million lives in the WHO South-East Asia Region which is amongst the largest producers and consumers of tobacco products.

Note: World Health Organization Headquarters: Geneva, Switzerland; World Health Organization Founded: 7 April 1948; World Health Organization Director-General: Tedros Adhanom.

 

2. GoI forms G20 Secretariat in view India’s G20 Presidency: India will hold the Presidency of the G20 from 1 December 2022 to 30 November 2023 and the G20 Summit will be held in India in 2023 (18th edition). For its preparation, the government has approved the setting up of a G20 Secretariat and its reporting structures. The G20 Secretariat will be guided by an Apex Committee headed by Prime Minister and it will have the following members:

Finance Minister: Nirmala Sitharaman,

Home Minister: Amit Shah,

External Affairs Minister: S. Jaishankar, and

G20 Sherpa: Piyush Goyal

What is the responsibility of the G20 secretariat?

The G20 secretariat will be responsible for the implementation of overall policy decisions and arrangements needed for steering India’s forthcoming G20 Presidency. In 2021, the G20 summits was held in Rome, Italy. In 2022 the G20 summit will be held in Bali, Indonesia while in 2023 it will be held in New Delhi, India.

 

OTHER UPDATES:

 

SPORTS

 

1. Chelsea wins 2021 FIFA Club World Cup Champions: English club, Chelsea has defeated Brazilian club Palmeiras, 2-1, to win the 2021 FIFA Club World Cup final. Chelsea has won the FIFA Club World Cup for the first time. The decisive goal was scored by Kai Havertz with 3 minutes of extra time to go. Kai Havertz’ nerveless 117th-minute penalty settled a gruelling Club World Cup final. The final was held at Mohammed bin Zayed Stadium, Abu Dhabi.

Key stats:

(1) Chelsea completed a full house of major trophies since Roman Abramovich took over the club in 2003: Champions League, Europa League, Super Cup, Premier League, FA Cup, League Cup and Community Shield.

(2) Chelsea became the third English team to win the Club World Cup after Manchester United and Liverpool.

 

BANKING AND FINANCE

 

1. SEBI makes provision of separation of chairperson & MD/CEO roles voluntary: Securities and Exchange Board of India (SEBI) board has decided to make provision for separation of the roles of chairperson and MD/CEO as ‘voluntary’ against ‘mandatory’ earlier. The market regulator had in June 2017 set up a committee on corporate governance under Uday Kotak with a view to seek recommendations to further enhance corporate governance norms for listed companies. One of the recommendations that the Committee came out with was the separation of the roles of chairperson and MD/CEO of listed companies. This was proposed to provide a better and more balanced governance structure by enabling more effective and objective supervision of the management. The SEBI board, in its meeting in March 2018 approved the proposal for the top 500-listed entities. Later the deadline for compliance was extended by two years in January 2020.

Note: SEBI Founded: 12 April 1992; SEBI Headquarters: Mumbai; SEBI Chairperson: Ajay Tyagi.

 

BUSINESS AND ECONOMY

 

1. MoSPI projected GDP deflator forecast for FY23 at 3-3.5%: Ministry of statistics and programme implementation (MoSPI) has projected India’s gross domestic product (GDP) deflator for FY23 at 3 to 3.5%. The Government’s own projection on real GDP growth for FY23 is at 7.6-8.1% and the union budget projected nominal GDP growth rate to be 11.1% for FY23. GDP Projection in the Budget is based on advance estimates of the ‘National Statistical Office’ (NSO). Economic Survey 2021-22 projected a real GDP growth rate of 8-8.5 per cent in FY23. RBI projected India’s real GDP growth of 7.8 per cent in FY23 and retail inflation of 4.5 per cent for FY23. The GDP deflator, or implicit price deflator, is a measure of inflation and is the difference between nominal GDP and real GDP.

 

2. Indian mining major Vedanta to manufacture semiconductors in India: The Indian mining major Vedanta has tied up with Taiwanese electronics manufacturing company, Hon Hai Technology Group (better known as Foxconn) to form a joint venture (JV) for manufacturing semiconductors in India. Anil Agarwal, the non-executive Chairman of Vedanta, will be the Chairman of the JV company. This is the first JV in the electronics manufacturing sector after the government announced a Rs 76,000 crore production-linked incentive (PLI) scheme for semiconductor and display manufacturing, to create an ecosystem of local production of semiconductors in India. Vedanta will be the majority shareholder in the JV while Foxconn will hold minority share.

Note: Foxconn Founder: Terry Gou; Foxconn Founded: 20 February 1974; Foxconn Headquarters: Tucheng District, Taipei, Taiwan.

 

OBITUARIES

 

1. Bengali singer Sandhya Mukherjee passes away: Legendary Bengali singer, Sandhya Mukherjee has passed away at the age of 90 years due to cardiac arrest. Her full name was Geetashree Sandhya Mukhopadhyay. She had recently refused to accept the Padma award from the central government that was awarded in January 2022. She told him that Padma Shree is not an award that should be conferred on a veteran like her. It would be demeaning for her to accept it.

Various Honoured she received: Mukherjee received the Banga Bibhusan, the highest civilian honour given by the Bengal government, in 2011 and the National Film Award for best female playback singer in 1970 for the movies Jay Jayanti (a Bengali remake of Sound of Music) and Nishi Padma. Nishi Padma was remade in Hindi as Amar Prem, starring Rajesh Khanna.

Daily GK Update- 17th Feb, 2022

 

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.