Weekly Current Affairs 1st February - 8th 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 has imposed the above restriction in the exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949.

• RBI cancels the licence of Nashik’s Independence Co-operative Bank Limited
  • 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.

• 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’.
  • It urged users to follow the concept of UPI Safety Shield which mentions 5 tips for safe UPI transactions.

ECONOMY

• Union Budget presented by Finance Minister
  • Union Finance Minister, Nirmala Sitharaman presented the Union Budget 2022 for the 4th time in a row.
  • 7 focus areas: PM Gati Shakti, Inclusive Development, Productivity Enhancement, Sunrise Opportunities, Energy Transition, Climate Action and Financing of investments.
  • Production Linked Incentive schemes in 14 sectors with the potential to create 60 lakh new jobs, and the additional new production of Rs 30 lakh crore.
  • Emergency Credit Line Guarantee Scheme to be extended up to March 2023, guaranteed cover extended by another Rs 50,000 crore. The total cover under the scheme is now Rs 5 lakh crore. An additional amount has been earmarked for the hospitality sector.
  • Income from transfer of digital assets (Cryptocurrency) to be charged 30% tax, plus 1% tax on the transaction.

• 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.

• 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.

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.
  • Not only e-consultation but even home delivery of medicines is assured under this scheme for the personnel and families of the defence personnel.

• Andhra Pradesh: Social activists build Gandhi Mandiram, Smruthi Vanam at Srikakulam
  • In Andhra Pradesh, social activists built a Gandhi Mandiram and also a Smruthi Vanam at Srikakulam.
  • The aim is to inculcate patriotism among the younger generation by remembering the sacrifices of freedom fighters and national leaders.

• Shera - Election Commission's poll mascot for Punjab
  • In a bid to spread voter awareness among citizens ahead of the Punjab Assembly Election, the office of state chief electoral officer (CEO) unveiled its election mascot 'Shera'.
  • ‘Shera’ -- depicting a lion -- represents the rich cultural heritage of the state.

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.

• 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.
  • ‘THE JET’ features cutting-edge characteristics and technologies, making it capable of flying in silence over the waters at a cruising speed of 40 knots.

• Queen Elizabeth Marks 70th Anniversary on the Throne
  • The United Kingdom marked the 70th anniversary of Queen Elizabeth II’s rule.
  • The 95-year-old monarch sat on the throne after her father, King George VI, died suddenly on Feb. 6, 1952, making her queen.

STATES

• Ladakh: Spituk Gustor festival
  • The annual celebrations of Ladakh festival Spituk Gustor have commenced in the state, on January 30.
  • The two-day festival brings out peace, harmony, and prosperity in society.

• Arunachal Pradesh: Torgya Festival
  • The traditional Torgya Festival of the Monpa community in Arunachal Pradesh has begun.
  • The three-day long Torgya Festival began at the Tawang Monastery.

REPORTS AND INDEXES

• Salesforce Global Digital Skills Index 2022
  • Salesforce published its Global Digital Skills Index revealing global employee sentiments and readiness to acquire the key digital skills needed by business today and over the next five years.
  • The Index is based on a survey of over 23,500 workers in 19 countries, with an average global readiness score of 33 out of 100.
  • In India 72% of respondents say they are very actively learning digital skills now to prepare themselves for the future of work. 66% of respondents in India also said they feel very equipped with resources to learn digital skills.

• 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.

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.

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.

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.

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.

AWARDS AND REWARDS

• NHRC's Short Film Award Competition
  • The National Human Rights Commission, NHRC, India has selected ‘Street Student’ by Mr. Akula Sandeep for the first prize of Rs. 2 lakh of its seventh prestigious Short Film Award Competition.
  • It received a record 190 entries received from various parts of the country.

• Republic Day Parade Awards 2022
  • Government announced Republic Day Parade Awards 2022.
  • 12 States and Union Territories (UT) participated in this year’s Republic Day Parade while 9 tableaux of the Central Ministries/departments participated in the parade.
  • In addition, for the first time, the general public was invited to vote for the best marching contingents and best tableaux in the popular choice category through the MyGov platform.

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.

• Unnati Hooda, Kiran George win Odisha Open titles
  • Teenager Unnati Hooda became the youngest Indian to win a Super 100 tournament as she beat compatriot Smit Toshniwal in straight games to claim the women's singles title while unseeded Kiran George emerged triumphant in men's singles final of the USD 75,000 Odisha Open badminton tournament.

• 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.
  • He is only the third Indian athlete to be nominated for a Laureus Award, after wrestler Vinesh Phogat in 2019 and cricket legend Sachin Tendulkar, who won the Laureus Sporting Moment Award 2000-2020.