Latest Current Affairs For Friday 25th February, 2022

GoI launches the “Janbhagidari Empowerment” portal in J&K

The Central Government launched the “Janbhagidari Empowerment” portal in the Union Territory of Jammu and Kashmir, in line with the government’s digital mission. The portal was hosted on a different server with higher bandwidth, in order to provide easy and ready accessibility to the general public.

It is a one-stop interactive and user-friendly digital platform. It provides detailed insights to people into nature, status as well as the number of developmental works that are being executed in their areas.

Works could be searched with respect to their location in each block or municipality, village and district. The portal has also been linked with schemes like MGNREGA, Swachh Bharat Mission (Rural), Swachh Bharat Mission (Urban), PM Awas Yojana, and PM Gram Sadak Yojana, under execution in Government.

Users will have to click on these links to gain instant access to works that are being carried out under these schemes.

Important For All Exam 2022:

Jammu and Kashmir Lieutenant Governor: Manoj Sinha.

Central Excise Day 2022: 24 February 2022

Central Excise Day of India is celebrated every year on February 24. The day is being celebrated to honour the service of the Central Board of Excise and Custom (CBEC) to the country.

The day is celebrated to honour the officers associated with CBEC and their services. The day is celebrated to commemorate the legislation of the Central Excise and Salt act on 24 February 1944.

The central excise day is celebrated to raise awareness about the contribution of the central excise officers among the general public of the country.

The jobs of the members of the Central Board of Indirect Taxes and Customs in preventing corruption among the manufacturing industries are worth appreciation and encouragement.

Important For All Exam 2022:

Chairman of Central Board of Excise and Custom: Vivek Johri.

Headquarters of Central Board of Excise and Custom: New Delhi.

Central Board of Excise and Custom Founded: 1 January 1964.

Reliance Jio’s New Subsea Cable ‘India-Asia-Xpress’ To Connect Maldives

India’s largest 4G mobile broadband and digital service provider, Reliance Jio Infocomm Ltd. will land the next generation multi-terabit India-Asia-Xpress (IAX) undersea cable system in Hulhumale, Maldives.

The high capacity and high-speed IAX system will connect Hulhumale directly with World’s major internet hubs in India and Singapore.

On the other hand, the India-Europe-Xpress (IEX) system connects Mumbai to Milan, landing in Savona, Italy, and includes additional landings in the Middle East, North Africa, and the Mediterranean. While IAX is expected to be ready for service by the end-2023, IEX will be ready for service in mid-2024.

Key points of Undersea cable systems:

Undersea cable systems along with data centres support 5G and the digital economy that builds large integrated capacities to enable India’s digital ecosystem.

This high capacity and the high-speed system will provide more than 200Tb/s of capacity at speeds of 100Gb/s, over 16,000 kilometres.

Employing open system technology and the latest wavelength switched RoADM/branching units ensures rapid upgrade deployment and the ultimate flexibility to add/drop waves across multiple locations.

Important For All Exam 2022:

Maldives Capital: Male;

Maldives Currency: Rufiyaa;

Maldives President: Ibrahim Mohamed Solih.

IIT Roorkee launched ‘KISAN’ mobile app in Uttarakhand

The Indian Institute of Technology Roorkee has organized a regional farmers’ awareness programme as part of the ‘Gramin Krishi Mausam Sewa’ (GKMS) project and launched KISAN mobile application for the farmers.

The app will provide agro-meteorological services to the farmers. Farmers from Haridwar, Dehradun, and Pauri Garhwal districts participated in the program.

KISAN app provides farmers with easy access to weather forecasts and weather-based Agrometeorological Advisory Bulletins for all six blocks of Haridwar district through phones.

The app was developed by Dr Khushboo Mirza, Senior Scientist, Regional Remote Sensing Centre (RRSC), National Remote Sensing Centre (NRSC), Indian Space Research Organization (ISRO), New Delhi under the guidance of Dr C S Jha, an Outstanding Scientist and Chief General Manager at RRSC, NRSC, ISRO, Hyderabad.

The Agrometeorological Advisory Services are offered jointly by the AMFU (Agromet Field Unit Roorkee) IIT Roorkee and the India Meteorological Department (IMD).

Exercise Cobra Warrior 22: India to participate in multi-nation Exercise in March

Indian Air Force will participate in a multi-nation air exercise named ‘Exercise Cobra Warrior 22’ at Waddington, in the United Kingdom from March 06 to 27, 2022. IAF Light Combat Aircraft (LCA) Tejas will participate in the exercise along with fighter aircraft of the UK and other leading Air Forces.

Five Tejas aircraft will fly to the United Kingdom. IAF C-17 aircraft will provide the necessary transport support for induction and de-induction.

The exercise is aimed at providing operational exposure and sharing best practices amongst the participating Air Forces, thereby enhancing combat capability and forging bonds of friendship. This will be a platform for LCA Tejas to demonstrate its manoeuvrability and operational capability.

India Ratings decrease GDP growth at 8.6% for FY22

India Ratings has revised downwards its GDP growth forecast for 2021-22 to 8.6 per cent from the consensus 9.2 per cent projected earlier.

According to an India rating analysis, National Statistical Organisation (NSO) is likely to peg the FY22 real gross domestic product growth at Rs 147.2 lakh crore. This translates into a GDP growth rate of 8.6 per cent, down from the 9.2 per cent forecast in the first advance estimate released on January 7, 2022.

The major reason for the likely downward revision is the upward revision of FY21 GDP to Rs 135.6 lakh crore in the first revised estimate of national income for FY21, which was released on January 31, 2022.

PM CARE for Children scheme extended by the Centre till 28th Feb 2022

The PM Cares for Children Scheme has been extended by the Ministry of Women and Child Development of the Government of India till February 28, 2022. Previously, the scheme was applicable till December 31, 2021.

A letter has been written in this respect to all Principal Secretaries/ Secretaries, Women and Child Development, Social Justice & Empowerment Departments of all States and UTs, with a copy to all District Magistrates/District Collectors.

To be eligible for the scheme, the child must be under the age of 18 at the time of their parents’ death, to be considered eligible for payments under this plan. All children who have suffered the following losses are covered under the scheme: Lost both parent due to COVID-19 Pandemic and Legal guardian/adoptive parents/single adoptive parent, from 11.03.2020, the day on which WHO proclaimed and defined COVID-19 as pandemic.

Paytm Payments Bank is now official acquiring partner for e-RUPI vouchers

Paytm Payments Bank Limited has announced that it is an official acquiring partner for ‘e-RUPI vouchers’. e-RUPI, which is a government initiative, is a cashless prepaid voucher that beneficiaries can present via SMS or QR Code.

Paytm’s merchant partners can then scan, enter the amount to be paid and receive the payment directly in their bank account. This will benefit beneficiaries (users), even those who do not have access to formal banking services or smartphones to avail the convenience of digital payments.

With this, merchants will be empowered with another digital payment collection method that will help them further increase their digital footprint and onboard more customers.

PPBL is empowering merchants to accept e-RUPI vouchers, which gives it an opportunity to tap into a larger user base that is a beneficiary of this initiative. This will further encourage more merchants to embrace cashless transactions, leading to an increase of digital payments.

Important For All Exam 2022:

Paytm Payments Bank Founded: 2015;

Paytm Payments Bank Headquarters: Noida, UP;

Paytm Payments Bank Founder & CEO: Vijay Shekhar Sharma.

RBI cautions the public against using carpooling app sRide

Reserve bank of India (RBI) has cautioned the public against carpooling app sRide. The caution against sRide App, stating that this firm was operating a semi-closed pre-paid instrument, without receiving authorization from the central bank, under Payment and Settlement Systems Act, 2007.

sRide Tech Private Limited is a registered company, with a registered office in Gurgaon, Haryana. This company is operating a semi-closed (non-closed) pre-paid instrument (wallet) through its ‘sRide’ carpooling app. Thus, RBI cautioned that persons dealing with the app will be doing at their own risk.

sRide app is a carpooling mobile application, that connects people within the community to share rides. The app help users in sharing the cost of travel, increasing mobility, reducing travel time, and building communities. The app also helps in using existing infrastructure, reducing parking needs, traffic and emissions for cities and organisations.

RBI announces dollar/rupee two-year sell buy swap auction

The Reserve Bank of India (RBI) has announced a US Dollar/Rupee two-year sell-buy swap auction with a view to elongating the maturity profile of its forward book and smoothening the receivables relating to forwarding assets.

The Central bank will undertake a sell/buy swap auction of $5 billion, which will enable access to a wider set of market participants. RBI will conduct a spot sale to sell USD 5 billion to banks in exchange of rupees, through this auction on March 10, 2022.

On March 11, 2024, it will make a forward purchase from banks in two years. The forward purchase will help in reducing RBI’s current foreign exchange reserves and increase its two-year forward USD purchases.

Mastercard tieup with SBI Payments to boost digital payments infrastructure

Mastercard, as an extension of its flagship campaign ‘Team Cashless India’ along with State Bank of India Payments partnered with the in Lucknow, Guwahati and Varanasi to boost the digital payments infrastructure.

During these engagements, Mastercard Team Cashless India volunteers and SBI Payments spoke to micro-merchants about the convenience, safety, and other benefits of accepting digital payments.

The outreach was very well received across cities, generating incredible results:

In Guwahati, Mastercard collaborates with All Assam’s Restaurant Association (AARA) in line with the Government’s ‘Digital Northeast Vision 2022’ which equips restaurant and hotel owners with a safe, seamless, secure mode of payment to consumers.

In Lucknow, Mastercard partnered with local transport bodies, including the Auto Rickshaw Association, to enable more than 700 auto-rickshaw drivers to accept digital payments.

In Varanasi, Mastercard partnered with the Boat Union to encourage over 1,000 members to accept digital payments from tourists and also local shopkeepers committed to digital payments which have increased tourism.

Important For All Exam 2022:

Mastercard Founded: 16 December 1966, United States;

Mastercard Headquarters: New York, United States;

Mastercard CEO: Michael Miebach;

Mastercard Executive Chairman: Ajay Banga.

Sanjeev Sanyal named full-time member of Economic Advisory Council to PM

Finance Ministry’s Principal Economic Advisor, Sanjeev Sanyal has been inducted as a full-time member of the Economic Advisory Council to the Prime Minister (EAC-PM), the panel’s chairman Bibek Debroy announced.

The appointment is for a tenure of two years. He had advised the finance ministry to devise economic policies during the pandemic. The EAC-PM is an independent body constituted by the Union government to advise the prime minister on economic matters.

SAAF & National Cross Country Athletics Championship to be held in Nagaland

Nagaland is all set to host the South Asian Athletic Federation (SAAF) cross country championship and 56th National Cross-Country athletics championships from 26th of next month in Kohima.

Meanwhile, the official mascot of the South Asian Cross Country Championships and 56th National Cross Country is a joyous happy running ‘Hornbill’. The name of the Mascot is Akimji – a connotation of the word AMBITION derived from Sumi dialect of Naga tribe which exemplifies the ambition of the new generation of Naga youth.

This event is going to be perhaps Nagaland’s biggest sporting event in our 50 plus years of statehood and expressed optimism that the event will propel the image of Nagaland and the state’s sporting dream towards national and international platforms. On this occasion, the official team Nagaland kit was also launched.

Important For All Exam 2022:

Chief Minister of Nagaland: Neiphiu Rio;

Governor of Nagaland: Jagdish Mukhi.

Chamba district of Himachal Pradesh becomes 100th ‘Har Ghar Jal’ District

Jal Jeevan Mission has achieved the significant milestone of providing tap water to every home of 100 districts across the country.

Chamba, in Himachal Pradesh, has become the 100th ‘Har Ghar Jal’ district, the fifth aspirational district to be covered under the initiative.

The other four Har Ghar Jal Aspirational districts are Bhadradri Kothgudem, Jayashankar Bhupalpalli, Komram Bheem Asifabad (all in Telangana) and Mewat in Haryana.

To translate Prime Minister Shri Narendra Modi’s vision of providing clean tap water to every home in the country by 2024, in a short span of two and half years and despite COVID-19 pandemic and lockdown disruptions, Jal Jeevan Mission, has provided tap water supply to more than 5.78 Crore rural households.

India to set up its first IIT outside the country in UAE

The Indian Institute of Technology will establish its first branch outside India in the United Arab Emirates (UAE) as part of the India-UAE trade deal signed.

The Comprehensive Economic Partnership Agreement (CEPA) signed between the UAE and India will usher in a new phase of joint strategic cooperation in all sectors.

The two nations will also set up an India-UAE cultural council to facilitate and promote cultural projects, cross-cultural exchanges and exhibitions.

The two countries and realising the need to establish world-class institutions that encourage and support innovation and technological progress, the leaders agreed to establish an Indian Institute of Technology in the United Arab Emirates.

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.