Latest Current Affairs For Saturday 12th February, 2022

RBI keeps Repo Rate unchanged at 4.0 per cent in its latest Monetary policy

Reserve Bank of India has kept policy repo rate under liquidity adjustment facility (LAF) unchanged at 4.0% in its latest monetary policy.

Other rates:

Policy Repo Rate: 4.00%

Reverse Repo Rate: 3.35%

Marginal Standing Facility Rate: 4.25%

Bank Rate: 4.25%

CRR: 4.00%

SLR: 18.00%

Monetary Policy Committee (MPC) has decided to continue with the accommodative stance.

RBI has projected the real GDP growth for 2022-23 at 7.8 per cent.

India to have National Centres of Excellence in Carbon Capture, Utilization

India will have two National Centres of Excellence in Carbon Capture and Utilization. They will be named as:

National Centre of Excellence in Carbon Capture and Utilization (NCoE-CCU) at IIT Bombay. 

National Centre in Carbon Capture and Utilization (NCCCU) at Jawaharlal Nehru Centre for Advanced Scientific Research, Bengaluru. 

Funded by: Dept of Science & Technology. 

It will facilitate capturing, mapping of current R&D and innovation activities in the domain. 

Fourth India-UK Home Affairs Dialogue held

The 4th India-UK Home Affairs Dialogue has been held in virtual mode.

Indian delegation was led by Union Home Secretary, Ajay Kumar Bhalla, and UK delegation was led by Permanent Secretary, Home Office, Mathew Rycroft.

Dialogue covered wide range of issues including Homeland Security, Cyber Security, Extradition cases, Migration & Mobility, etc.

The dialogue concluded with both sides agreeing to deepen security-related bilateral engagement.

New artificial Intelligence-based tools can help finding habitable planets

Indian Astronomers have devised new approach for identifying potentially habitable planets with a high probability by utilizing an Artificial Intelligence-based algorithm. 

It is an anomaly detection method by which they can identify potentially habitable ones with a high probability.

The method is based on the postulate that Earth is an anomaly, with possibility of existence of few other anomalies. 

It is published in Monthly Notices of the Royal Astronomical Society. 

Indian Army begins implementing RFID tagging of its ammunition inventory

Indian Army has commenced implementing Radio Frequency Identification (RFID) tagging of its ammunition inventory.

First consignment of RFID tagged ammunition, comprising three lots of 5.56mm ammunition, was dispatched from Ammunition Factory Khadki to Central Ammunition Depot Pulgaon. 

Implementation of RFID solution for ammunition asset visibility will transform management of ammunition and bring in a quantum jump in ammunition lot management and tracking capability. 

Subhas Sarkar presented 5th National Award for Educational Administration

Union Minister, Subhas Sarkar has virtually presented 5th National Award for Innovations and Good Practices in Educational Administration. 

National Award or Certificate of Appreciation were presented to selected District and Block level education officers from 29 states and Union Territories of the country.

It was received by more than hundred officers. 

National Institute of Educational Planning and Administration has instituted this National Award.

Indian Army conducts 1st Hackathon at Military College of Telecommunication

Indian Army has conducted first Hackathon at Military College of Telecommunication Engineering (MCTE), Mhow under overall guidance of Shimla based Army Training Command (ARTRAC). 

Aim: to promote proficiency and expertise in the use of emerging technologies, and showcase the technological side. 

The event is named as Sainya Ranakshetram from 1st Oct 2021 to 31st Dec 2021 in collaboration with Rashtriya Raksha University, in which over 15000 participants took part.

National Monuments Authority to hold first ever global webinar on Monuments

National Monuments Authority will hold 1st ever global webinar on Monuments protection.

It will be organized in collaboration with Indian Council for Cultural Relations on Protection of the Monuments and their significance for the Preservation of National Heritage.

It will be participated by 20 countries including Bangladesh, Bhutan, Japan, Iran, South Africa, Venezuela, Israel and USA.

This is the first ever global Webinar on monuments protection.

International Day of Women and Girls in Science: 11th February

International Day of Women and Girls in Science is observed on 11 February every year to achieve full and equal access to and participation in science for women and girls.

Theme 2022: Equity, Diversity, and Inclusion: Water Unites Us.

UN General Assembly has declared 11 February as International Day of Women and Girls in Science in 2015.

Science and gender equality are both vital for achievement of 2030 Agenda for Sustainable Development.

Mumbai 5th most-congested city in TomTom Traffic Index Ranking 2021

TomTom Traffic Index Ranking 2021 has been released covering 404 cities across 58 countries.

India: Mumbai has been ranked 5th, Bengaluru is ranked 10th and New Delhi has been ranked at 11th place in terms of most congested cities in the world in 2021.

Top most congested city of the world: Istanbul (Turkey), followed by Moscow.

Congestion level in Delhi has been reduced to 48 points in 2021 from 53 points in 2019 and peak traffic congestion also reduced by 17% in 2021. 

Pradip Shah appointed as Chairman of Pfizer India

Pradip Shah has been appointed as the Chairman of Pfizer India, which is the leading biopharmaceutical companies across the globe. 

He succeeded R A Shah as the chairman, who resigned on 3rd February.

He also served as the ex-managing director and founding member of CRISIL, India’s first and the largest credit rating agency. 

He has also served as a consultant to USAID, World Bank, and Asian Development Bank.

RBI reopens Voluntary Retention Route with investment limit of ₹2,50,000 cr

Reserve Bank of India (RBI) has increased investment limit in Voluntary Retention Route (VRR) from Rs. 1,50,000 crores to Rs. 2,50,000 crores.

This increased limit shall be open for allotment from April 1, 2022.

Minimum retention period: 3 years. 

Investment limit available for fresh allotment shall accordingly be ₹1,04,800 crore. 

It will be available ‘on tap’ and allotted on ‘1st come, 1st served’ basis. 

VRR was introduced for FPIs in debts in 2019 with ₹1,50,000 crore limit. 

India Pavilion inaugurated at 72nd Berlinale European Film Market 2022

India Pavilion has been inaugurated at 72nd Berlinale European Film Market 2022.

It is organized on the sidelines of Berlin International Film Festival.

Its inaugural session was hosted by Ministry of Information and Broadcasting, National Film Development Corporation and Confederation of Indian Industry.

India Pavilion offers sneak peek into cinemas of India and the beautiful locales which beacon film makers to come to India.

It will remain live till 17th February.

Surat to get India’s first bullet train station

Surat is set to have its own bullet train station by December 2024, which will be India’s first bullet train station. 

The station will be built along Mumbai-Ahmedabad route, which is again country's first bullet train route.

Station will have external facade and interiors of the station resemble a sparkling diamond - the pride of Surat city.

It is being constructed by National High-Speed Rail Corporation Ltd (NHSRCL). 

Cost of bullet train project: ₹1 lakh crore.

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.