Weekly BeePedia 23rd January - 31st January 2021

FINANCE AND BANKING

• Overseas investment by Indian companies dips 42 pc to USD 1.45 bn in Dec: RBI data
  • Overseas investment by domestic firms fell by over 42 per cent to USD 1.45 billion in December 2020, according to Reserve Bank data.

• RBI proposes 4-layered framework for regulation of shadow banks
  • The RBI floated a discussion paper proposing a four-layered structure for the regulation of non-banking financial companies (NBFCs).

• RBI remains net purchaser of US dollar in November, buys USD 10.261 bn
  • The Reserve Bank of India (RBI) continued to remain a net buyer of the US currency in November after it bought USD 10.261 billion from the spot market, data showed.

ECONOMY

• M-cap of 4 of top-10 valued firms jumps over Rs 1.15 lakh crore
  • Four of the top 10 valued firms added a total Rs 1,15,758.53 crore to their combined market valuation last week, helped by Reliance Industries which added Rs 71,033.44 crore to its market cap.

• PFC raises USD 500 million via notes
  • Power Finance Corporation (PFC) has raised USD 500 million (Rs 3,651 crore) through issuance of notes (bonds) under its USD 5 billion Global Medium Term Note Programme.

• IMF projects impressive 11.5 per cent growth rate for India in 2021
  • The IMF projected an impressive 11.5 per cent growth rate for India in 2021, making the country the only major economy of the world to register a double-digit growth this year amidst the coronavirus pandemic.

NATIONAL

• Cabinet approves proposal for mineral reforms
  • The Cabinet approved a proposal for mega mineral reforms, a move that will boost mineral production in the country and bring more mineral blocks into auction.

• CM Conrad Sangma Inaugurates India's Longest Road Arch Bridge-"Wahrew Bridge"
  • Meghalaya chief minister Conrad Sangma inaugurated the longest road arch bridge in India- the Wahrew Bridge in Tharia village in Meghalaya.

• Indian Railways' longest freight train 'Vasuki' sets a new record
  • Indian Railways' South Eastern Central Railway (SECR) zone has created another record when it operated the longest freight train on the Indian Railways network.

INTERNATIONAL

• Mongolia PM Khurelsukh Ukhnaa quits
  • Mongolia’s prime minister Khurelsukh Ukhnaa resigned a day after protests against his government’s Covid-19 control measures erupted in capital Ulaanbaatar

• Kaja Kallas to become first woman Prime Minister of Estonia
  • Estonia’s two biggest political parties say they have clinched a deal to form a new government to be led by a female Prime Minister Kaja Kallas for the first time in the Baltic country’s history.

• Italy Prime Minister Giuseppe Conte resigns
  • Giuseppe Conte resigned as Italian prime minister.
  • President Sergio Mattarella is expected to hold two days of formal consultations with all the parties before deciding what to do next.

STATES

• Odisha CM inaugurates 15th edition of Toshali National Crafts Mela
  • Odisha Chief Minister Naveen Patnaik inaugurated the 15th edition of Toshali National Crafts Mela in Bhubaneswar.

• 71st foundation day of Uttar Pradesh
  • Uttar Pradesh celebrated its 71st foundation day ton 24 Janaury. Uttar Pradesh was recognised as a state of India on January 24, 1950.

• UP govt to set up India's first leather park in Kanpur
  • Uttar Pradesh government will establish the first leather park of the country in Kanpur district.

REPORTS AND INDEXES

• People's Climate Report: UNDP
  • The United Nations Development Programme (UNDP) released the results of 'People's Climate Report' - World's Largest Survey of Public Opinion on Climate Change.

• Corruption Perceptions Index (CPI) 2020
  • The Transparency International released the 2020 Corruption Perceptions Index (CPI). The list has been topped by New Zealand and Denmark rank at the first position with scores of 88 stating minimum corruption levels.

• The Inequality Virus: Oxfam report
  • Oxfam has released a report- The Inequality Virus.
  • As per the report, the top 100 Indian billionaires increased their wealth by 35% during the lockdown to Rs 12,97,822 crore.

SCIENCE AND TECHNOLOGY

• SpaceX creates new world record; launches 143 satellites on single rocket
  • Elon Musk’s SpaceX created a new world record by launching 143 satellites on a single rocket. The launch vehicle for the SpaceX record-breaking flight was the Falcon 9 rocket.

• India’s first indigenous device for correcting ballooning of brain arteries and healing of heart hole
  • Indians will soon have access to the country’s first indigenous flow diverter stent for diverting blood flow away from localized ballooning of arteries in the brain and a device that promotes better healing of the hole in the heart.

AGRICULTURE AND RURAL DEVELOPMENT

• Farmer agitations cause Rs 600 crore loss on toll collections; Rs 9,300 crore debt at risk: Report
  • The ongoing agitations by farmers in the national capital region (NCR), Haryana and Punjab will cause a Rs 600-crore loss to toll collections, a report from ICRA said.

• Fertiliser sales volume to spurt 10 pc to record 68 million tonnes in FY21: Report
  • Domestic fertiliser sales is likely to surge to 10 per cent to a record 68 million tonne in 2020-21 following a good monsoon, which is well above the 3 per cent annual growth rate that was witnessed since the last five years, according to a report by Crisil.

• India's agricultural export grows: Economic Survey
  • India's agricultural products exports of marine, rice, sugar and spices have witnessed an increasing trend in 2019-20, said the Economic Survey.

DEFENCE

• DRDO’s successful flight test of Smart Anti Airfield Weapon
  • DRDO has successfully conducted captive and release trial of indigenously developed Smart Anti-Airfield Weapon (SAAW) from Hawk-Mk132 of Hindustan Aeronautics Limited (HAL) off the Odisha coast.

• DRDO conducts maiden launch of Akash missile at integrated test range in Odisha
  • The Defence Research and Development Organisation (DRDO) successfully conducted the maiden launch of the new generation of surface-to-air Akash missile from integrated test range off the coast of Odisha.

• BSF Begins 'Operation Sard Hawa' On Border to Increase Security
  • Border Security Force (BSF) launched "Operation Sard Hawa" under which it aims to increase security on the borders in Jaisalmer.

EVENTS

• India- Bangladesh hold Joint Steering Committee meeting on power sector
  • The 19th meeting of the Joint Steering Committee (JSC) on India Bangladesh cooperation in the energy sector was held in Dhaka.

• India, Japan hold fifth joint meeting of Act East Forum
  • India and Japan held the fifth joint meeting of the India-Japan Act East Forum in New Delhi.
  • The meeting was co-chaired by Foreign Secretary Harsh Vardhan Shringla and Ambassador of Japan to India Suzuki Satoshi.

• 7th Edition of India Smart Utility Week 2021
  • India Smart Grid Forum, a PPP initiative of Government of India, is organising the 7th edition of their annual flagship event - India Smart Utility Week (ISUW 2021) from 02 - 05 March 2021, which is an International Conference and Exhibition on Smart Energy and Smart Mobility for Smarter Cities on Digital Platform.

AWARDS AND REWARDS

• Business Standard Banker of the Year 2019-20
  • Shyam Srinivasan, managing director and chief executive officer (CEO) of Federal Bank, is the Business Standard Banker of the Year for 2019-20 for his bank’s consistent healthy performance at a time when most of its peers witnessed large stress on asset quality, registered losses, or even invited regulatory actions.

• Padma Awards 2021 announced
  • Padma Awards - one of the highest civilian Awards of the country, are conferred in three categories, namely, Padma Vibhushan, Padma Bhushan and Padma Shri.
  • This year the President has approved conferment of 119 Padma Awards. The list comprises 7 Padma Vibhushan, 10 Padma Bhushan and 102 Padma Shri Awards.

• Nelson Mandela World Humanitarian Award
  • Philanthropist Ravi Gaikwad got awarded The "Nelson Mandela" World Humanitarian Award, for his absolute spirit and professionalism.

SPORTS

• IHAI National Ice Hockey Championship
  • The Indo-Tibetan Border Police (ITBP) won the Ice Hockey Association of India (IHAI) 10th National Ice Hockey Championship trophy after a win over Ladakh in the finals in Gulmarg.

• 2020–21 Syed Mushtaq Ali Trophy
  • The Syed Mushtaq Ali Trophy is a domestic Twenty20 cricket championship in India, organized by Board of Control for Cricket in India (BCCI), among the teams from Ranji Trophy. It is named after the famous Indian test cricketer, Syed Mushtaq Ali. In the final, Tamil Nadu beat Baroda by seven wickets to win the tournament.

• No Ranji Trophy for first time in 87 years
  • For the first time in 87 years, the BCCI decided that it won't be conducting country's premier first-class domestic tournament Ranji Trophy (since 1934).