Monthly Current Affairs February 2022

FINANCE AND BANKING

• RBI imposed restrictions on Indian Mercantile Cooperative Bank Ltd
  • RBI recently imposed several restrictions on Indian Mercantile Cooperative Bank Ltd, Lucknow, including a cap of Rs 1 lakh on withdrawals.
  • The restrictions came into force from the closure of business hours on January 28, 2022.

• RBI cautions public against forex trading on unauthorised platforms
  • RBI recently cautioned the public not to undertake forex trading on unauthorised Electronic Trading Platforms (ETPs) or remit money against such transactions as these actions attract penalty under the Foreign Exchange Management Act (FEMA).

• NPCI announces UPI safety and awareness week
  • National Payments Corporation of India (NPCI) recently announced the UPI Safety and Awareness initiative, to create awareness amongst consumers. Under this initiative, NPCI and the UPI ecosystem will observe February 1-7 as ‘UPI Safety and Awareness Week’ and the whole of February as ‘UPI Safety and Awareness Month’.

ECONOMY

• Tata group acquires Neelachal Ispat Nigam Ltd for Rs 12,100 crore
  • Tata Steel Long Products Ltd (TSLP) recently acquired Odisha-based Neelachal Ispat Nigam Ltd (NINL) for Rs 12,100 crore.
  • Neelachal Ispat Nigam Ltd (NINL) is a steel plant located in Kalinganagar in Odisha and was shut in March 2020 due to continued losses. It has a capacity of 1.1 million tonnes a year.
  • It is for the 1st time a public sector steel manufacturing enterprise in India got privatised.

• Samsung Surpasses Intel as World’s top semiconductor company in 2021
  • Samsung Electronics recently surpassed U.S chipmaker Intel to become the world’s leading chipmaker by revenue in 2021, as per a report released by research firm Counterpoint Technology Market Research.

• Chennai Super Kings becomes India’s First Unicorn Sports Enterprise
  • Chennai Super Kings (CSK), has become the country’s first sports Unicorn with its market cap having touched a high of Rs 7,600 crores.
  • Its Share in the grey market trading in the Rs 210-225 price band.
  • CSK has now a market cap more than its parent entity, India Cements. India Cements’ market cap stood at Rs 6,869 crores.

NATIONAL

• Home Delivery of medicines begins under SeHAT programme
  • The Press Information Bureau of India has announced that beginning 1 February 2022, the Services e-Health Assistance and Teleconsultation (SeHAT) -- the tri-services teleconsultation service of the MoD designed for all entitled personnel and their families – get enabled or activated.

• India to get its first geopark in Madhya Pradesh
  • Geological Survey of India (GSI) has approved the setting up of a geopark in Madhya Pradesh, the country’s first.
  • The park will be set up at Lamheta village on the banks of river Narmada, Jabalpur district.

• 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, an international treaty for the conservation and sustainable use of wetlands.
  • With this, the total number of Ramsar sites in India goes up to 48.

INTERNATIONAL

• Xiomara Castro Sworn In As First Female President Of Honduras
  • Xiomara Castro was sworn in as the first woman president of Honduras.
  • Castro, 62, took the oath at a ceremony attended by international dignitaries. The guests included US Vice President Kamala Harris, King Felipe VI of Spain and Taiwan Vice President William Lai.

• Portugal PM Antonio Costa Reelected With Absolute Majority
  • In snap general election, Portugal's centre-left Socialists have won an outright parliamentary majority by defying all odds.
  • The party has secured a strong mandate for Prime Minister Antonio Costa.

• Dubai firm to launch world's first hydrogen-powered flying boat
  • Swiss-based start-up THE JET ZeroEmission announced that it has inked an agreement with Zenith Marine Services LLC, a UAE-based company and DWYN LLC to manufacture and operate ‘THE JET’ – the first clean-energy, hydrogen-powered flying boat.

REPORTS AND INDEXES

• In 2021, J&K was the most dangerous place for Indian journalists
  • At least 6 journalists were killed and 121 media houses were targeted in India in 2021, according to an India Press Freedom Report 2021 released by the Rights and Risks Analysis Group (RRAG).
  • Jammu and Kashmir, Uttar Pradesh, Madhya Pradesh and Tripura topped the list of states and Union territories where journalists and media houses were targeted in 2021.

• LIC 10th most valued insurance brand globally: Brand Finance Report
  • Brand Finance has recently come up with brand valuation report.
  • As per the report, Life Insurance Corporation has been ranked at 10th in the list of insurance brands globally.
  • LIC is the only Indian insurance company in the top 10 list.
  • Of the top 10, as many as 5 are Chinese insurance companies

• TomTom Traffic Index 2021
  • The 11th edition of the TomTom Traffic Index’s is released.
  • Top Ranked cities:Istanbul topped the list. Moscow was second while Kyiv was third.
  • Indian Cities: Four cities from India featured in the index’s global top 25 list – with Mumbai at the fifth position, Bengaluru at the 10th position, New Delhi at the 11th position and Pune at the 21st position.

SCIENCE AND TECHNOLOGY

• IISc. commissions one of India’s most powerful supercomputers
  • Param Pravega, a supercomputer that is touted to be one of the most powerful in the country, has been installed at the Indian Institute of Science (IISc) in Bengaluru under the National Supercomputing Mission (NSM).
  • It has been designed by the Centre for Development of Advanced Computing (C-DAC).

• NASA Plans to Retire International Space Station in 2031
  • The International Space Station will continue its operation until 2030 and then crash into an uninhabited area in the Pacific Ocean known as Point Nemo.
  • The de-orbit of the ISS will happen in 2031. It is meant to land around 2,500 miles east of New Zealand’s coast.
  • It will be replaced with three free-flying space stations to continue the work after ISS's retirement.

• ISRO successfully launches EOS-04, two other satellites
  • The Indian Space Research Organisation successfully launched its earth observation satellite EOS-4 and two co-passenger technology demonstrator and scientific satellites from the first launch pad at the country’s only spaceport in Sriharikota, Andhra Pradesh.
  • The three satellites namely EOS-04, INSPIREsat-1 and INST-2TD were injected successfully into a sun-synchronous polar orbit of 529 km.

AGRICULTURE AND RURAL DEVELOPMENT

• KVIC cancels license of oldest Khadi Institution “Khadi Emporium”
  • Khadi and Village Industries Commission (KVIC) has cancelled the “Khadi Certification” of its oldest Khadi Institution named Mumbai Khadi & Village Industries Association (MKVIA).
  • KVIC has cancelled the license of MKVIA as the latter had started selling fake Khadi products, which was against the “zero-tolerance” policy of KVIC against the sale of spurious/non-Khadi products.

• NABARD launched ‘JIVA Programme’ to promote natural farming
  • National Bank for Agriculture and Rural Development (NABARD) has launched the ‘JIVA programme’.
  • The objective is to promote natural farming under its existing watershed and wadi programmes in 11 states. To effectively implement the principles of agroecology long-term sustainability and transform the pre-existing social and natural capital towards efficient farming.

• Government continues RYSK Scheme for another 5 years
  • The Central Government of India has decided to continue the scheme of “Rashtriya Yuva Sashaktikaran Karyakram (RYSK)” for another 5 years from 2021 -22 to 2025-26 with an outlay of Rs. 2,710.65 crore.
  • Beneficiaries of Rashtriya Yuva Sashaktikaran Karyakram are the youth in the age group of 15 to 29 years.

DEFENCE

• Indian Navy’s fifth Scorpene class submarine 'Vagir' commences sea trials
  • The Indian Navy's brand-new submarine, the fifth of six French-designed Scorpene-class submarines named "Vagir", sailed out on its first sea sortie and will now undergo rigorous trials before being delivered to the Navy.
  • It is constructed by Mazagon Dock Shipbuilders Limited (MDL) in collaboration with the Naval Group of France.

• India's Goa Shipyard Ltd delivered the 5th vessel ICGS 'Saksham'
  • India’s Goa Shipyard Ltd delivered the 5th and final vessel of the 5 Coast Guard Offshore Patrol Vehicle (CGOPV) Project.
  • The vessel was named ICGS ‘Saksham’.
  • The contract for 5 CGOPVs was signed by GSL with the Ministry of Defence (MoD).

• Bangladesh-US Air forces to conduct joint air exercise ‘Cope South 22’
  • The air forces of Bangladesh and the US will conduct a joint air exercise between Feb 20-25.
  • The six-day long Pacific Air Forces-sponsored, bilateral tactical airlift exercise ‘Cope South 22’ will be conducted at BAF Kurmitola Cantonment, Dhaka, and Operating Location-Alpha, Sylhet, Bangladesh.

EVENTS

• 30th National Commission for Women (NCW) Foundation Day Programme
  • Prime Minister Narendra Modi will address the 30th National Commission for Women (NCW) Foundation Day programme via video conferencing.
  • The theme of the programme is 'She The Change Maker', aimed at celebrating the achievements of women in different fields

• NITI Aayog's Fintech Open Summit
  • NITI Aayog, in collaboration with PhonePe, AWS (Amazon Web Services) and EY, has organised a three-week-long virtual summit, 'Fintech Open', from February 7–28.
  • The summit was inaugurated by Union Minister for Railways, Communications, and Electronics and IT Ashwini Vaishnaw.

• PM Narendra Modi to address high-level segment of One Ocean Summit
  • Prime Minister Narendra Modi will address the high-level segment of the One Ocean Summit through a video message.
  • The One Ocean summit is being organised by France from 9-11 February in Brest in cooperation with the United Nations and the World Bank.

AWARDS AND REWARDS

• Nitin Gadkari to receive Late Madhavrao Limaye Karyaksham Khaasdar award
  • The Karyaksham Khaasdar (Efficient Member of Parliament) Award for the year 2020-21, given in the memory of late Madhavrao Limaye by Sarvajanik Vachanalay, Nashik, will be conferred on Union Minister of Road Transport and Highways Nitin Gadkari.

• 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 winner in the category plaque.

• Coal India gets 'India's Most Trusted Public Sector Company' award
  • Coal India Limited, a Maharatna company of the Government of India, has been awarded the 'India's Most Trusted Public Sector Company' award.
  • Coal India received this honor at the “Energy Meet and Excellence Award” function organized by Industry Chamber ASSOCHAM in Kolkata.

SPORTS

• PR Sreejesh becomes first Indian man to win World Games Athlete of the Year Award
  • Veteran Indian hockey goalkeeper PR Srejeesh, who was part of the men's team that claimed a bronze medal in the Tokyo Olympics, won the prestigious World Games Athlete of the Year for his 2021 performances, becoming only the second Indian to receive the accolade.

• Neeraj Chopra nominated for Laureus World Breakthrough of the Year Award
  • Neeraj Chopra, India’s first ever winner of an Olympic athletics gold medal, has been nominated for the 2022 Laureus World Breakthrough of the Year Award.
  • Besides him, five others have been nominated for the award – Emma Raducanu, Daniil Medvedev, Pedri, Yulimar Rojas, Ariarne Titmus.

• IOC approves proposal to include skateboarding, surfing and rock climbing at 2028 LA Olympics
  • Skateboarding, surfing and rock climbing have officially been added to the 2028 Los Angeles Olympics.
  • The IOC is promoting urban sports to attract younger viewers.
  • Cricket Stadium in Australia that can hold 132,000 and 100,024 spectators respectively.

• China wins AFC Women’s Asian Cup India 2022 Football Tournament
  • India hosted the AFC Women’s Asian Cup 2022 football tournament, which was held in Mumbai, Navi Mumbai and Pune.
  • This was the 20th edition of the AFC Women’s Asian Cup - a quadrennial (held every four years) tournament to crown the best women’s football team in Asia.
  • China won a record ninth title, and their first since 2006, to win the AFC Women’s Asian Cup 2022. They came back from two goals down to beat South Korea 3-2 in the final.