Latest Current Affairs For Thursday 3rd February, 2022

Banks to transfer 15 accounts worth Rs 50,000 crore to NARCL in FY-22

As per SBI Chairman Dinesh Khara, NARCL or bad bank and India Debt Resolution Company Ltd are ready to commence operations.

A total of 38 NPA accounts worth Rs 82,845 crore have been identified to be transferred to NARCL initially.

In the Phase I 15 accounts worth Rs 50,000 crore will be transferred to NARCL in the current financial year.

Public Sector Banks have taken a majority stake in NARCL, IDRCL will be majorly owned by private sector banks.

Vedanta ties up ₹8Kcr facility with Union Bank to take over syndicated faci

Vedanta Ltd has tied up a facility of ₹8Kcr with Union Bank of India to take over majority of the syndicated facility after discussions with lenders.

During 2020, amid the COVID-19 pandemic, Vedanta Ltd had tied up a syndicated facility of ₹10Kcr with State Bank of India as the lead bank at a running cost of 10.5 per cent.

This replacement facility was availed on Dec 2021 to take over the existing Syndicated facility to reduce the overall interest cost of the company.

Dubai firm to launch world's first hydrogen-powered flying boat

World's first hydrogen-powered flying boat is all set to be manufactured and launched in Dubai. 

Swiss startup THE JET ZeroEmission has signed an agreement with UAE-based Zenith Marine Services and US-based DWYN to manufacture and operate 'The Jet'.

The boat is equipped with two fuel cells and an air conditioner as well as other clean-tech.

The boat can silently fly over the waters at a cruising speed of 40 knots and also has a capacity of carrying 8-12 passengers.

Government notifies Phase II of capital goods scheme

Ministry of Heavy Industries has has notified the phase II of the scheme to enhance competitiveness in the capital goods sector.

financial outlay will be of Rs 1,207 crore.

It will provide assistance to Common Technology Development and Services Infrastructure.

Total financial outlay would include budgetary support of Rs 975 crore and the remaining Rs 232 crore would come through contribution from the industry.

Minister of Heavy Industries: Dr. Mahendra Nath Pandey

Govt sets up National Land Monetisation Corporation

The govt is setting up the National Land Monetisation Corporation (NLMC) to carry out the monetization of the land and other non-core assets.

Initial authorized share capital of NLMC will be ₹5000 crores and subscribed share capital of ₹150 crores. 

So far, CPSEs have referred 3,400 acres of land and other non-core assets for monetisation from CPSEs including MTNL, BSNL, BPCL, B&R, BEML, HMT Ltd, Instrumentation Ltd.

India's first geological park to come up at Madhya Pradesh's Jabalpur

The first 'geological' park of country will be built in Lamheta in Jabalpur, Madhya Pradesh.

Approval for the park has been granted by Geological Survey of India, under ministry of mining, Government of India for construction of the park with an investment of Rs 35 crores.

The geological park will be built in Lamheta, because this place is among significant places in the world, from the geological point of view.

World Interfaith Harmony Week: First Week of February (1-7)

Every year, the first week of February is celebrated as World Interfaith Harmony Week by the United Nations.

It was first proposed in 2010 by HM King Abdullah of Jordan.

The celebration of this event spreads the message of mutual respect, love, and tolerance among the followers of all the world’s religions, faiths, and beliefs.

This week is especially important to celebrate in today’s time as interfaith harmony is central and essential to take the human race forward.

Center of Excellence in Affordable and Clean Energy launched in IIT Dharwad

A Global Center of Excellence in Affordable and Clean Energy has been launched at the IIT Dharwad, Karnataka.

The center is supported by the Corporate Social Responsibility (CSR) donation from Honeywell Hometown Solutions India Foundation (HHSIF).

The first phase of the CSR project with HHSIF is to establish equipment for the GCoE-ACE mainly as skill development, fabrication, and R&D equipment.

Annual Spituk Gustor Festival celebrated in Ladakh

Spituk Gustor Festival has been celebrated in Leh and Ladakh Union Territory.

It is a two-day annual celebration of Ladakhi culture and traditional heritage celebrated every year.

The main attraction of the festival was the colourful mask dance locally called Chams performed by the monks of the monastery in their best robes depicting different deities such as Mahakala (Gonbo), Paldan Lhamo (Shridevi), White Mahakala, Protector Deity.

Actor-filmmaker Amitabh Dayal passes away

Actor-filmmaker Amitabh Dayal (51-years) has passed away after suffering a heart attack.

Mr Dayal has worked in films like Kagaar: Life on the Edge (2003) with Om Puri, Bhojpuri film Rangdari (2012) and Raj Babbar’s Dhuaan (2013), Amitabh Bachchan’s Virrudh (2005).

SBI launches ‘Surya Shakti Cell’; partners with Tata Power

State Bank of India has collaborated with Tata Power Solar Systems Ltd. for financing solar power projects in the Ballard Estate in Mumbai. 

SBI has launched a dedicated centralized processing cell named ‘Surya Shakti Cell’ with the objective of strengthening the existing financing arrangement for solar power projects. 

The Surya Shakti Cell will process all the loan applications for Solar Projects from across India by Tata Power Solar Systems Ltd(max capacity of up to 1 MW). 

World Wetlands Day: 2nd February

World Wetlands Day is observed every year on 2nd February globally.

The objective of the day is to raise awareness about the crucial role played by wetlands for people and our planet.

This year, the theme is “Wetlands Action for People and Nature”.

The day is celebrated to mark the date of the adoption of the Convention on Wetlands on 2nd February 1971, in the Iranian city of Ramsar on the shores of the Caspian Sea.

Tata Sky rebrands itself as 'Tata Play'

Tata Sky (founded in 2006) has dropped the ‘sky’ brand name and rechristened itself as 'Tata Play'.

One of the largest Direct to Home (DTH) platforms has joined hands with Netflix to offer new OTT (over the top) content-centric channel packs as well.

'Tata Sky' is a joint venture between the Tata Sons (60%) and The Walt Disney Company (30%), with Temasek Holdings, Singapore (10%).

PM Narendra Modi to be awarded prestigious Lokmanya Tilak Award 2023

The Tilak Smarak Mandir Trust (Hind Swaraj Sangh) would confer the prestigious Lokmanya Tilak National Award 2023 to Prime Minister Narendra Modi in Pune on August 1, 2023.

Reason: This award recognizes PM Modi's supreme leadership under which India has climbed the ladder of progress

It is presented annually on the occasion of Lokmanya Tilak's death anniversary.

Other awardees: Indira Gandhi, Atal Bihari Vajpayee, Sharad Pawar, Cyrus Poonawalla, and Manmohan Singh. 

J&K Bank wins award for Best Performance in CASA

Jammu & Kashmir Bank has been felicitated for the Best Performance in CASA-India (1st Runner up in Small Bank Category) at ICC Emerging Asia Banking Conclave & Awards 2022.

The event was participated by banks from India, Nepal, Bhutan, Bangladesh, Sri Lanka & Myanmar.

The function was organized by the Indian Chamber of Commerce in Goa.

Indian Chamber of Commerce (ICC) is a non-governmental trade association and advocacy group headquartered in Calcutta.

India poised to become world’s 2nd-largest economy by 2075: Goldman Sachs

According to the Investment Bank Goldman Sachs, India is poised to become the world’s second-largest economy by 2075.

As per the report, India would cross Japan, Germany, and the US With a population of 1.4 billion people.

India’s GDP is estimated to expand remarkably, reaching 52.5 trillion dollars surpassing the US GDP projection.

The labour force participation set to make India the second-largest economy in the world by 2075.

L&T and Spain's Navantia sign agreement for submarine project

L&T has signed a teaming agreement with Spanish-based Navantia for the submission of a techno-commercial bid for the Indian Navy’s prestigious P75 (India) submarine program.

P75 (India) Submarine Project is expected to be valued at €4.8 billion.

Navantia would carry out the design of P75(I) submarines based on its S80 class of submarines.

The first S80 class submarine was launched in 2021 and is undergoing sea trials prior to its delivery to Spanish Navy. 

India overtakes China as most attractive emerging market for investing

According to a study by Invesco Global Sovereign Asset Management, India has overtaken China to become the most attractive emerging market for investing in sovereign wealth funds this year.

Reason: This is due to its solid demographics, political stability, and proactive regulation. 

Positives for the nation also include the rapidly expanding demography, strong regulatory actions, and a welcoming climate for sovereign investors.

World Population Day 2023: 11 July

World Population Day is observed every year on July 11 in order to raise awareness about global population issues, including population control.

2023 theme: Unleashing the power of gender equality: Uplifting the voices of women and girls to unlock our world’s infinite possibilities. 

It was established by the United Nations Development Programme (UNDP) in 1989, after the day the world approximately reached a population of five billion, which was observed on 11 July 1987.

MoHUA conducts SBM-U 2.0 Planning & Implementation Review-cum-Workshop

The Housing Ministry organized a review-cum-workshop to evaluate and accelerate the planning and implementation of the SBM-Urban 2.0.

PM Modi launched the 2.0 versions of SBM-U and AMRUT on October 1, 2021.

SBM-U 2.0: Achieving 100% waste segregation in all households and premises and 100% door-to-door collection of segregated waste from each. 

AMRUT 2.0: To provide complete coverage of water supply to all households and sewerage and septage in 500 AMRUT cities. 

Gujarat CM launches pilot project of ‘Antyodaya Shramik Suraksha Yojana’

Gujarat CM Bhupendra Patel launched the Antyodaya Shram Suraksha Accident Insurance Scheme from Kheda

All those registered under the e-Shram portal from Nadiad will benefit from the scheme.

It is being implemented through the Indian Postal Department, the IPPB, and the Ministry of Labour and Employment.

Under this scheme, insurance with a premium of Rs. 289 and Rs. 499 per year will be a big support to workers in the event of death or partial disability.

OCA elects Sheikh Talal as the new President

Kuwait’s Sheikh Talal Fahad Al Ahmad Al Sabah has been elected as the new President of the Olympic Council of Asia (OCA).

He replaced his older brother Sheikh Ahmad Al-Fahad Al-Sabah, who led the OCA for 30 years until 2021.

The OCA was founded in 1982 by his father Fahad Al-Ahmed Al-Jaber Al-Sabah, who led it until 1990.

The Olympic Council of Asia (OCA) is a governing body of sports in Asia, currently with 45 member National Olympic Committees.

Bajaj Allianz Life Insurance wins Insurer Innovation Award 2023

Bajaj Allianz Life Insurance has won the Insurer Innovation Award 2023 for the APAC region at the 8th World Digital Insurance Awards, hosted by TDI - The Digital Insurer.

Recognition: Bajaj Allianz Life's ground-breaking WhatsApp Conversational Platform - empowering customers to digitally services their policies seamlessly. 

The award entries were shortlisted by industry experts and the winner was selected by the community through pre-voting and live event voting.