Weekly Current Affairs 23rd January - 31st January 2022

FINANCE AND BANKING

• RBI imposes restrictions on Indian Mercantile Cooperative Bank Ltd, Lucknow
  • RBI has imposed several restrictions on Indian Mercantile Cooperative Bank Ltd, Lucknow, including a cap of Rs 1 lakh on withdrawals.
  • RBI said the Lucknow-based co-operative bank will not, without its prior approval, grant or renew any loans and advances, or make any investment.

• Non-food credit grows 9.3 per cent in December: RBI data
  • Banks non-food credit growth accelerated to 9.3 per cent in December from 6.6 per cent in the same period of the last year, according to the latest data from the Reserve Bank of India (RBI).
  • Credit to agriculture and allied activities continued to perform well, registering a robust growth of 14.5 per cent in December 2021 as compared to 7.7 per cent in December 2020, according to the RBI’s Sectoral Deployment of Bank Credit data for December 2021.

• SEBI amends its employee service rules
  • SEBI recently tweaked the rules pertaining to the filing up of the posts of executive director at the regulator.
  • Under the new rules, two-third of the total posts for executive directors will be filled up with internal candidates and the remaining one-third, not more than three, will be filled up by deputation or on contract basis.

ECONOMY

• AIIB invests USD 150 million in data centre development to serve emerging Asia
  • Asian Infrastructure Investment Bank (AIIB) has committed USD 150 million to invest in the development of data centres that mostly serve emerging Asia.
  • This project is being AIIB’s 1st data centre project.

• Swiggy becomes decacorn with valuation of $10.7 billion
  • Swiggy has signed a $700 million funding round led by asset manager Invesco. With this, the total valuation of Swiggy has reached to $10.7 billion making it now a decacorn.
  • A decacorn is a startup with a valuation of more than $10 billion.

• Air India formally handed over to Tata Group
  • The government of India officially handed over India’s flag carrier, Air India to the Tata Group on January 27, 2022.
  • The total value of the deal is Rs 18,000 crore (US$2.4 billion).

NATIONAL

• PM Modi unveils hologram statue of Netaji Subhas Chandra Bose at India Gate
  • On the occasion of the 125th birth anniversary of Netaji Subhas Chandra Bose, Prime Minister Narendra Modi unveiled a hologram statue of the freedom fighter at India Gate in New Delhi.
  • The hologram statue is a placeholder until a granite statue is installed at the site.

• Haryana and Himachal Pradesh ink deal to build Adi Badri Dam
  • The governments of Haryana and Himachal Pradesh entered into an agreement to build a dam at Adi Badri in Yamunanagar district, which, among others, will rejuvenate the Saraswati river. Along with this, the area will also develop as a pilgrimage site.
  • Adi Badri, situated in Haryana near the Himachal Pradesh border, is believed to be the river’s origin point.

• India pays $29.9 million in UN regular budget assessments for 2022
  • India has paid USD 29.9 million in UN regular budget assessments for the year 2022.
  • As of January 21, 2022, 24 Member States have paid their regular budget assessments in full.

INTERNATIONAL

• Barbados Prime Minister Mia Mottley Wins General Election For Second Term
  • The incumbent Prime Minister of Barbados, Mia Mottley, who has been serving the country since 2018, has again won the election. She won all 30 seats.

• Netherlands unveils world's-largest canal lock
  • Dutch King Willen-Alexander opened the world's largest canal lock, Zeesluis IJmuiden.
  • The Ijmuiden lock was designed to allow large, modern cargo ships to reach the port of Amsterdam.
  • The 500-meter (1,640-feet) long and 70-meter wide sluice replaces a smaller, nearly 100-year-old one at Ijmuiden, a small port city connecting the North Sea Canal to the port of Amsterdam.

STATES

• Himachal Pradesh CM Launches ‘Apna Kangra’ mobile app
  • Himachal Pradesh’s Chief Minister Jai Ram Thakur launched a new app Apna Kangra to provide a hassle-free experience for tourists and also boost the sale of local handicrafts.
  • The motive of this app was to empower rural women and provide job opportunities to youth. Along with this, it also aims at boosting hospitality services like hotels, homestays and transport to travellers.

• Karnataka State launches India's first AVGC Centre of Excellence
  • The Karnataka state government launched Animation, Visual Effects, Gaming and Comics (AVGC) Centre of Excellence, termed as the pioneering technology digital media hub, funded by the Department of Electronics, IT.

• Kerala gets its first ever scientific bird atlas
  • The Kerala Bird Atlas (KBA), the first-of-its-kind state-level bird atlas in India, has created solid baseline data about the distribution and abundance of various bird species across all major habitats giving an impetus for futuristic studies.

REPORTS AND INDEXES

• Corruption Perceptions Index 2021
  • Transparency International released Corruption Perceptions Index (CPI) 2021.
  • Top Ranked Nations: Denmark, Finland, and New Zealand, each with a score of 88 followed by Norway (85), Singapore (85), Sweden (85), Switzerland (84), the Netherlands (82), Luxembourg (81) and Germany (80).
  • India’s Rank: With a score of 40, India ranks at 85th position in the index.

• NITI Aayog & RMI India releases report ‘Banking on Electric Vehicles in India
  • NITI Aayog has released a report titled ‘Banking on Electric Vehicles in India.
  • The report focuses on the need and importance of the inclusion of Electric Vehicles in RBI priority-sector lending guidelines.
  • The report has been developed by NITI Aayog in collaboration with US-based non-profit organisations Rocky Mountain Institute (RMI), and RMI India.

• MeitY unveils 5-year roadmap to becoming $300-billion electronics powerhouse
  • Ministry of Electronics and Information Technology (MeitY) has released a 5-year roadmap and Vision Document 2.0 for the electronics sector.
  • The Vision Document 2.0 titled “$300 bn Sustainable Electronics Manufacturing & Exports by 2026” has been prepared by MeitY in association with the India Cellular & Electronics Association (ICEA).

SCIENCE AND TECHNOLOGY

• ISRO Successfully Tests Vikas Engine Of India's Gaganyaan Human Space Mission
  • The Indian Space Research Organisation (ISRO) has successfully fired the high-thrust Vikas engine that would power the nation's first man mission - Gaganyaan.
  • The Vikas engine underwent a qualification test for a duration of 25 seconds at the ISRO Propulsion Complex that’s located in Mahendragiri in Tamil Nadu.

• CSIR-CDRI scientists develop OM, the RT-PCR kit for Omicron
  • The CSIR – Central Drug Research Institute’s scientists have developed an indigenous RT-PCR kit called ‘INDICoV-OmTM’ or ‘Om’ for testing the omicron variant.
  • The kit, a first by any government institution for the omicron variant, will make India self-reliant in RT-PCR diagnostics.

AGRICULTURE AND RURAL DEVELOPMENT

• Govt announces 40 to 100 per cent subsidy to popularise drone in agriculture
  • Union Agriculture Ministry has amended the guidelines of Sub-Mission on Agricultural Mechanization (SMAM) to provide 40-100 per cent subsidy until March 2023 in purchasing drones for farm mechanization.
  • A grant for the purchase of drones up to 100 per cent of the cost of agriculture drones or Rs 10 lakhs, whichever is less, can be given.

DEFENCE

• NATO to hold major naval drills in the Mediterranean Sea
  • The United States and NATO partners will conduct a 12-day maritime exercise in the Mediterranean Sea.
  • The maritime exercise, called "Neptune Strike '22" is meant to demonstrate and test NATO's maritime capabilities.

• Russian-Chinese-Iranian naval exercises CHIRU-2Q22
  • The Chinese Navy has sent the destroyer Urumqi to the Gulf of Oman for the CHIRU-2Q22 joint drills with the Russian and Iranian navies.
  • The drills are aimed at deepening practical cooperation among the navies of the three countries.

• Saab wins AT4 anti-armour weapon contract from India
  • Swedish defence major Saab’s AT4 anti-armour weapon had been selected by the Indian Army and the Indian Air Force through a competitive programme for a single-shot weapon.
  • The order includes the AT4CS AST, which can be fired from confined spaces such as from inside buildings, bunkers and other urban environments. It weighs around 9 kg and has an effective range of 200m.

EVENTS

• India-Central Asia Virtual Summit
  • Prime Minister Narendra Modi hosted the first India-Central Asia Summit in virtual format.
  • It was attended by Presidents of the Republic of Kazakhstan, Kyrgyz Republic, Republic of Tajikistan, Turkmenistan and Republic of Uzbekistan.
  • This first India-Central Asia coincided with the 30th anniversary of establishment of diplomatic relations between India and Central Asian countries.

• 2nd ASEAN Digital Ministers (ADGMIN) meeting
  • The 2nd ASEAN Digital Ministers (ADGMIN) meeting with India held on a virtual platform.
  • H.E. Devusinh Chauhan, Minister of State for Communications (MoSC) and H.E. Admiral Tin Aung San, Ministry of Transport and Communications, Myanmar co-chaired the meeting.
  • The ADGMIN is an annual meeting of Telecom Ministers of 10 ASEAN (Association of South-East Asian Nations) countries -Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam and dialogue partner countries - Australia, Canada, China, EU, India, Japan, Republic of Korea, New Zealand, Russia, UK and US.

AWARDS AND REWARDS

• Netaji Award 2022
  • Former Japan Prime Minister Shinzo Abe was conferred with the Netaji Award 2022 by Netaji Research Bureau on Netaji Subhas Chandra Bose’s 125th birth anniversary.
  • Sugata Bose, the grand-nephew of the legendary freedom fighter, is the Director of Netaji Research Bureau.

• Prajakta Koli becomes UNDP India's first youth climate champion
  • Content creator and actress Prajakta Koli has become India's first UN Development Programme (UNDP) Youth Climate Champion under her partnership with the organisation.
  • The title has been conferred to her following her contribution towards mental health, women's rights and girl child education through various global social campaigns.

• Sathyamangalam Tiger Reserve bags TX2 award
  • Sathyamangalam Tiger Reserve (STR) in Erode district, Tamil Nadu has been given the prestigious TX2 award after its tiger numbers doubled to 80 since 2010.
  • Apart from the STR, the Bardia National Park in Nepal has won this year’s TX2 award for doubling the population of wild tigers.

SPORTS

• Syed Modi India International 2022
  • PV Sindhu beat 20-year-old compatriot Malavika Bansod in the women's singles final of Syed Modi India International and won the Super 300 title at the Babu Banarasi Das Indoor Stadium.
  • Meanwhile, the men's singles final of Syed Modi 2022 was declared a "no-result" after one of the finalists (Arnaud Merklle and Lucas Claerbout) tested Covid-19 positive.

• Ladakh Team Wins 9th IHAI National Women's Ice Hockey Championship
  • The Ladakh women’s team has won the ninth national women’s ice hockey championship organised by the Ice Hockey Association of India in Himachal Pradesh.
  • The championship was held in Kaza area of Himachal Pradesh from January 15-21.

• Women’s Asia Cup Hockey: India beat China 2-0 to win Bronze medal
  • India won bronze medal beating China 2-0 for third and fourth place play off.
  • India women's hockey team captain Savita Punia and her team return home from Oman with a bronze medal after beating former champions China 2-0 in the third-place play-off.