CURRENT AFFAIRS SNIPPETS JANUARY 1 TO 11 2022

CURRENT AFFAIRS SNIPPETS

1^ST JANUARY 2022

NATIONAL

Bombay High Court to switch to hybrid mode from January 4

Amid the rising COVID-19 cases, the Bombay High Court (HC) administration on Friday decided to shift to a hybrid mode of hearing from January 4 to January 7. In the hybrid mode, hearings will take place both physically and virtually and litigants will be only allowed to enter the court premises if ordered by the court.

Centre releases grant of ₹830.85 cr to Odisha under Jal Jeevan Mission

Centre released a grant of ₹830.85 crore to Odisha under Jal Jeevan Mission. Out of 85.67 lakh rural households in the state, 35.37 lakh have tap water supply in their homes, Ministry of Jal Shakti said. There is a massive increase in budgetary allocation to ₹3,323.42 crore in 2021-22, from ₹812.15 crore in the preceding year for Odisha, it added.

Cinemas, swimming pools shut in Gurugram & 4 other Haryana districts till Jan 12

Haryana government on Saturday issued an order to close cinema halls, sports complexes, swimming pools and entertainment parks in Gurugram, Faridabad, Ambala, Panchkula and Sonipat, from tomorrow till January 12, 2022. All offices are advised to function with 50% staff and malls, markets can open till 5 pm. Bars and restaurants can stay open at 50% seating capacity.

Lakhs visit 'Jaystambh' to mark anniversary of Bhima-Koregaon battle

Lakhs of people on Saturday paid tributes at the 'Jaystambh' in Pune district on the 204th anniversary of the Bhima-Koregaon battle. Maharashtra Deputy CM Ajit Pawar and Home Minister Dilip Walse Patil were among the politicians to visit the monument today. Around 200 PMPML buses are plying from various areas in Pune to bring visitors to the memorial.

Received 31,000 complaints of crimes against women in 2021, over half from UP: NCW

National Commission for Women (NCW) last year said that it received nearly 31,000 complaints of crimes committed against women in 2021, the highest since 2014. Over half of the complaints were from Uttar Pradesh, it added. A maximum of 11,013 complaints were related to the right to live with dignity, followed by those related to domestic violence at 6,633.

PM Modi releases ₹20,900 crore to farmers under PM-KISAN scheme

PM Narendra Modi on Friday released ₹20,900 crore financial benefit to more than 10.09 crore farmers under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme. PM Modi also released an equity grant of more than ₹14 crore to about 351 Farmer Producer Organizations, benefiting 1.24 lakh farmers. A total of ₹1.8 lakh crore has been provided under PM-KISAN scheme so far.

INTERNATIONAL

Sri Lanka's food inflation hits record high amid shortages

The food inflation rose to a record 22.1% in December in Sri Lanka amid an acute shortage of essentials, according to Colombo Consumer Price Index (CCPI) on Saturday. The overall inflation was at a record 12.01% in December. The country's economy has been impacted by the COVID-19 pandemic, leading to the foreign exchange reserves crisis.

UK planning cheaper, easier visas for Indians for trade deal with India: Report

The UK is planning to relax immigration rules by offering cheaper and easier visas for Indian tourists, students and professionals in an attempt to get a trade deal with India, a UK media report stated. UK's International Trade Secretary Anne-Marie Trevelyan, who is expected to visit India this month, may discuss the prospect of relaxing immigration rules for Indian citizens

UK Queen announces knighthood for ex-British PM Tony Blair

UK's Queen Elizabeth II on Friday announced a knighthood for former British PM Tony Blair. She personally appointed Blair as Knight Companion of the Most Noble Order of the Garter, the most senior order of knighthood. "It is an immense honour...and I am deeply grateful to Her Majesty the Queen," Blair said.

UK museum finds over 550 new species including 6 dinosaurs in 2021

Researchers at the London's Natural History Museum have found 552 new species of animals including six new dinosaurs in 2021. The biggest animals to be discovered were the spinosaurs discovered on the Isle of Wight. Other discoveries were the brachiopods, arachnids and an ancient herbivorous crocodile relative. They also found a mouse in Scotland from 166 million years ago.

UAE to ban unvaccinated citizens from travelling abroad from Jan 10

The United Arab Emirates (UAE) will ban citizens not vaccinated against COVID-19 from travelling abroad from January 10, the state news agency reported on Saturday. However, the ban would not apply to those with medical or humanitarian exemptions. The UAE has reported more than 7.64 lakh coronavirus cases and 2,165 COVID-19 deaths, according to the state news agency.

US extends support for International Space Station till 2030: NASA

NASA Administrator Bill Nelson said that the administration of US President Joe Biden has committed to extending the operations of the International Space Station (ISS) through 2030. Nelson added that Biden administration will continue research in the orbiting laboratory with international partners including Russia through the decade. Currently, Congress has approved funding only till 2024.

Taiwan President Tsai warns China against 'military adventurism'

Taiwan President Tsai Ing-wen warned China against "military adventurism". During her New Year's speech, Tsai said that military conflict is not the answer to cross-strait disagreements. Notably, while Taiwan and China split after a civil war in 1949, the former considers itself an independent country while the latter considers it to be a part of its territory.

Kim Jong-un says North Korea will focus on food and economy in 2022

North Korean leader Kim Jong-un said the country's main goals for 2022 are food, economy and COVID-19 at a ruling party plenary meeting. "The main task is to guarantee the implementation of the five-year plan," state media quoted Kim. The UN in October warned of a full-blown food crisis in North Korea with the most vulnerable at risk of starvation.

Australia to rename island to honour Queen Elizabeth on platinum jubilee

Australia will rename Aspen Island as Queen Elizabeth II Island during a special event in June, PM Scott Morrison said. This will be a part of national, community events in 2022 to celebrate the 70th anniversary of the accession of the Queen to the British throne, he added. Commemorative stamps and coins will be released in Queen's honour, Morrison said.

BUSINESS, BANKING AND ECONOMY
India sees record ₹8.26 lakh crore UPI transactions in December

India saw value of UPI transactions in December rise to a record high of ₹8.26 lakh crore, NPCI data showed. The month also saw the volume of transactions jump to record high at 456 crore. For the year, UPI saw 3,874 crore transactions, up 105% from 2020. The value of these transactions rose by over 130% at ₹71.46 lakh crore

China's Tencent buys small stake in UK digital bank Monzo

China's Tencent has taken up a small stake in Britain's digital bank Monzo as part of a fundraising, weeks after the bank fetched a valuation of $4.5 billion. Monzo did not disclose the details of Tencent's stake. In December 2021, Monzo received funding from investors such as Abu Dhabi Growth Fund and Coatue.

US asks AT&T, Verizon to delay 5G wireless over safety concerns

US Transportation Secretary Pete Buttigieg and FAA head Steve Dickson have asked AT&T and Verizon to delay the planned January-5 introduction of new 5G wireless service over aviation safety concerns. The aviation industry and FAA have raised concerns about potential interference of 5G with sensitive aircraft electronics. A delay of no more than two weeks has been proposed.

OBITUARY

Guinness World Record holder actress Betty White passes away days before 100th b'day

American actress and comedian Betty White, whose career spanned around 79 years, passed away days before her 100th birthday. White, who worked in shows like 'Golden Girls' and 'The Mary Tyler Moore Show', had bagged the Guinness World Record for the longest TV career by an entertainer (female). She received eight Emmy Awards in various categories in her career.

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CURRENT AFFAIRS SNIPPETS

2nd JANUARY 2021

NATIONAL

No property tax on residential properties up to 500 sq ft in Mumbai: Maha CM

Maharashtra CM Uddhav Thackeray has announced complete waiver of property tax on residential units of up to 500 square feet in Mumbai. "I promise Mumbaikars that we are able to take care of your health and well-being, just continue to give us your blessings," Thackeray said while announcing the decision, ahead of Mumbai municipal corporation elections due next month.

12 devotees killed, 15 injured in Vaishno Devi temple stampede

Twelve devotees were killed and 15 injured in an earlymorning stampede at the Mata Vaishno Devi shrine in Katra in Reasi district in Jammu on Saturday.

Hyderabad’s six-lane Shaikpet flyover inaugurated by KTR

Telangana minister KT Rama Rao on Saturday inaugurated the six-lane, 2.71 km long Shaikpet flyover in Hyderabad. The flyover connects Tolichowki to Raidurg. Shaikpet flyover has been built at a cost of ₹333 crore, Rao said. “Another milestone in our effort to ease traffic in Hyderabad through GHMC’s SRDP program,” Rao tweeted.

India reports 27,553 new COVID-19 cases, daily positivity rate rises to 2.55%

India has reported 27,553 new COVID-19 cases in the last 24 hours, according to the Ministry of Health and Family Welfare. The country also reported 284 deaths, taking the death toll to 4,81,770. India's active caseload reached 1,22,801, while the daily positivity rate rose to 2.55%. Notably, 1,525 cases of Omicron have been reported so far in the country

Pune airport may restart international flights from Jan 7: Official

The Pune airport may restart international flights, which were not operational due to the COVID-19 outbreak, from January 7, an airport official has said. "Flight for Sharjah may take off from Pune International Airport on January 7, we are waiting for final confirmation," he added. The official further said that the airport is ready to resume international flight operations.

Revoking FCRA licence will affect humanitarian work during COVID: Oxfam India

A day after Ministry of Home Affairs (MHA) refused to renew the registration of Oxfam India under Foreign Contribution (Regulation) Act, the organisation said the action would "severely affect" its humanitarian work, including COVID-19 relief work, in 16 states. The licence is needed to receive funding from abroad. "We'll urge the MHA to lift the funding restrictions," Oxfam India stated.

WB schools, colleges to remain shut from tomorrow; offices to operate at 50% capacity

Amid a rise in COVID-19 cases, all schools, colleges, universities and spas will be closed in West Bengal from Monday, January 3, state Chief Secretary HK Dwivedi said. Salons, beauty parlours, zoos and entertainment parks will also remain shut. “All government and private offices to operate at 50% capacity, all administrative meetings to be conducted via virtual mode,” Dwivedi added.

PM Modi lays foundation stone of UP's first sports university in Meerut

Prime Minister Narendra Modi on Sunday laid the foundation stone of Major Dhyan Chand Sports University in Uttar Pradesh's Meerut district. The state's first sports university will be established in Sardhana at an estimated cost of about ₹700 crore. "Without 'dhyan' (focus), there can be no success...Every year, 1,000 students will graduate from this sports university," PM Modi said.

₹8 lakh income limit for EWS reservation in NEET PG admissions to remain: Govt to SC

Ahead of the Supreme Court hearing in the NEET post-graduate admissions case on January 6, the central government has filed an affidavit stating that the ₹8 lakh annual income criterion for Economically Weaker Sections (EWS) reservation will remain. The top court had earlier put a stay on the process after a petition challenged the EWS criteria as "discriminatory".

Need to 're-focus' on efforts against Omicron cases: Mandaviya

Union Health Minister Mansukh Mandaviya on Sunday said that learnings from India's earlier fights against COVID-19 "must be used to re-focus on efforts against the Omicron variant". Mandaviya called for stringent containment measures to curb the surge of COVID-19 cases and asserted the need to follow COVID-appropriate behaviour. He also lauded the efforts of state administrations to curb COVID-19.

Rajasthan's Kota to get ₹100-crore park to help de-stress coaching students

The Rajasthan government is constructing a ₹100 crore park in Kota to keep coaching students de-stressed and to promote eco-tourism. Kota is known as a hub of coaching for medical and engineering entrance exams. While 16% of the park will have water bodies, it will also feature leisure trails, open gyms, Wi-Fi cyber zone and volcano structure among other things.

INTERNATIONAL

Which countries have reported over 1 crore cases since the start of COVID-19?

France has become the world's sixth country to report more than 1 crore COVID-19 cases since the start of the pandemic, after reporting 2,19,126 new cases in the latest 24-hour period. France joined the United States, India, Brazil, Britain, and Russia in having had over 1 crore cases. India has reported over 3 crore cases since the start of COVID-19.

France takes over EU Presidency with aim for 'more sovereign Europe'

France on Friday took over the Presidency of the Council of the European Union with an aim to work towards a "more sovereign Europe". "Europe must rise to...major economic, educational, migration and military challenges," French President Emmanuel Macron said. Notably, this comes a few months ahead of the 2022 French presidential election that is scheduled to be held in April.

Kuwait encourages its citizens to leave UK over Omicron fears

The Kuwaiti embassy in the UK has encouraged its citizens to leave the country due to a "significant and unprecedented" increase in Omicron cases there, the state news agency reported on Sunday. The embassy also urged Kuwaiti citizens to postpone their visits to the country. The UK reported 1,37,583 coronavirus cases in the past 24 hours on Sunday.

Suez Canal revenues rise to record $6.3 billion in 2021

Egypt's Suez Canal annual revenues reached $6.3 billion last year, the highest in the waterway's history, an official said on Sunday. This is a 12.8% increase from $5.6 billion earned in revenue in 2020, the official added. The official further said that 20,694 ships transited the canal in 2021, a 10% increase as compared to 18,830 vessels in 2020.

BUSINESS, BANKING AND ECONOMY

India appeals against WTO panel ruling on sugar export subsidies: Official

India has appealed against the ruling of World Trade Organisation's (WTO) trade dispute settlement panel which said that India's support measures for sugar and sugarcane are inconsistent with global trade norms, an official said. On December 14, 2021, the panel recommended India to withdraw alleged prohibited subsidies within 120 days. India stated that the findings are completely "unacceptable".

Tata Motors overtakes Hyundai as 2nd largest PV seller in Dec 2021

Tata Motors has overtaken Hyundai Motor India to become the second largest seller of passenger vehicles (PVs) in the domestic market for the first time in close to a decade in December 2021. Tata Motors registered sales of 35,299 PV units in December 2021, whereas Hyundai dispatched 32,312 units. Tata Motors said it dispatched close to 99,000 vehicles between October-December.

Future Retail misses due date for payment of ₹3,500 crore to banks

Kishore Biyani-led Future Retail, which runs the Big Bazaar chain of stores, missed the due date of December 31, 2021, to pay ₹3,494.56 crore to various consortium banks and lenders. The company said it missed the due date "due to ongoing litigation with Amazon". Future Retail would be co-operating with banks and lenders for payment in the next 30 days.

Vinod Kannan takes over as CEO of Vistara

Vistara has announced that Vinod Kannan took over as the Chief Executive Officer (CEO) of the airline on Saturday. "Kannan started his stint with Vistara as the Chief Strategy Officer in June 2019 and took over as Chief Commercial Officer in January 2020," the company said. Kannan replaced Leslie Thng who was the CEO from July 2017 to December 2021.

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CURRENT AFFAIRS SNIPPETS

03 January 2022

National News
West Bengal's Belur Math closed until further orders amid COVID-19

After the West Bengal government imposed restrictions on Sunday over rising COVID-19 cases, Belur Math, the headquarters of Ramakrishna Mission, has been closed for visitors until further notification. The venue was scheduled to be closed from January 1-4 in an earlier announcement. As per reports, other temples and tourist spots can also be closed in wake of surging coronavirus cases
PM to lay foundation stone for projects worth ₹43,000cr in Punjab

Prime Minister Narendra Modi will lay the foundation stones of various development projects worth over ₹42,750 crore in Punjab's Ferozepur on Wednesday, PMO said on Monday. This comes ahead of the state's upcoming Assembly election. The projects include the Delhi-Amritsar-Katra Expressway, PGI Satellite Centre in Ferozepur and two new medical colleges in Kapurthala and Hoshiarpur.

1st electric boat built for Kochi Water Metro Project

In Kerala, the first battery-powered electric boat built for the Kochi Water Metro Project was handed over to the Kochi Metro Rail Limited. The fully air-conditioned boat is among the 23 boats being built by the Cochin Shipyard for the 747-crore rupee Kochi Water Metro project.

Kochi Water Metro system will have 78 ferries, linking 38 terminals spread over 76 route kilometres. The battery-powered water metro boat can carry 100 passengers. KMRL said it was for the first time in the world a centrally controlled integrated water transport system with a large fleet is powered by the battery.

Jawaharlal Nehru Road renamed as ‘Narendra Modi Marg’

Governor of Sikkim, Ganga Prasad, has named a new road Narendra Modi Marg. The Governor viewed the road under Kabi Lungchok from Kyongsala, 4th mile. This is an alternative to Jawahar Lal Nehru Marg.

The National Monument at National Highway 310 was built by Border Roads Organization. It will be easier for Indian tourists to reach Nathula Border. The stretch, constructed by Border Roads Organisation, has reduced the distance between Gangtok and Tsomgo lake by 15 km.

Odisha launched Digital Life Certificate system for pensioners 2022

Odisha Chief Minister Naveen Patnaik has launched an online service for the verification of identity and submission of life certificates for pensioners of the state government.

The chief minister virtually launched the new initiative while attending the orientation programme for newly recruited 153 officers of Odisha Civil Services.

Identification and life certificates can now be submitted by the pensioners using an artificial intelligence-based video-verification process.

It will be of immense help to the pensioners as they can submit their identification and life certificates digitally, without visiting any government office simply by using their mobile phones.

This facility will also be available at the ‘Mo Seva Kendras’ located across the state. Patnaik said the introduction of digital life certificates and E-dairy were part of his government’s 5T and ‘Mo Sarkar’ initiatives.

Important takeaways for all competitive exams:

Odisha Capital: Bhubaneswar;

Odisha Governor: Ganeshi Lal;

Odisha Chief Minister: Naveen Patnaik.

UP’s Jhansi Railway Station renamed as ‘Veerangana Laxmibai Railway Station’

Yogi Adityanath, Chief Minister of Uttar Pradesh has announced that the government of UP has renamed the Jhansi Railway Station, in Jhansi, UP as “Veerangana Laxmibai Railway Station” after Rani Laxmibai.

The announcement was made by UP Chief Minister Yogi Adityanath. A notification to this effect has been issued by the UP government and the Railways has started preparations to implement the change.

Earlier the Mughalsarai Railway station was renamed as Pt. Deen Dayal Upadhyaya junction and the Faizabad Railway station as Ayodhya Cantt.

Vinay Kumar Tripathi named as Chairman and CEO of Railway Board

1983 Batch of Indian Railway Service, Vinay Kumar Tripathi has been appointed as new Chairman and Chief Executive Officer of Railway Board. He is presently working as General Manager, Northeastern Railway to the post of Chairman of Railway Board.

Indian Railway Board is the apex body of the Indian Railways, which reports to parliament through the Ministry of Railways. The Appointments Committee of the Cabinet has not only approved the appointment of Tripathi for six months from January 1 but also further granted an extension of his tenure till 31 December in 2022.

Vinay Kumar Tripathi has attended higher Management training programmes in Switzerland & USA. Tripathi had played a key role in the commissioning of state-of-art three-phase locomotives and their indigenization, which are now the workhorse of Indian Railways. Tripathi holds wide experience in railway management and administrations.

Dharmendra Pradhan launches reading campaign ‘Padhe Bharat’

Union Education Minister Dharmendra Pradhan has launched a 100-day reading campaign ‘Padhe Bharat.

The launch of the 100 Days Reading Campaign is in alignment with the National Education Policy (NEP) 2020 which lays emphasis on the promotion of joyful reading culture for children by ensuring the availability of age-appropriate reading books for children in local/mother tongue/regional/tribal language.

Padhe Bharat campaign will focus on children studying in Balvatika to Grade 8. The reading campaign will be organized for 100 days (14 weeks) starting from January 1, 2022, to April 10, 2022.

The reading campaign aims to have the participation of all stakeholders at the national and state level including children, teachers, parents, community, educational administrators etc.

Government approved 19th Tranche of Electoral Bonds

The government has approved the issuance of the 19th tranche of electoral bonds, which will be open for sale from January 1 to 10, 2022, ahead of assembly elections in five states Uttar Pradesh, Uttarakhand, Punjab, Himachal Pradesh and Goa.

In the 19th tranche of sale, the State Bank of India (SBI), has been authorised to issue and encash electoral bonds through its 29 specialised branches. There is no limit on the number of bonds an individual or company can purchase. An electoral bond will be valid for 15 days.

Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding. However, Opposition parties have been raising concerns about alleged opaqueness in funding through such bonds.

International News
I'm bankrupt now: Ex-Polish Prez and Nobel laureate Lech Wałęsa

Ex-Polish President and Nobel Peace Prize laureate Lech Wałęsa claimed that he is bankrupt after his income from speaking engagements declined amid the COVID-19 pandemic. "I'm bankrupt now because I get 6,000 zlotys a month in my pension and the wife spends 7,000 (zlotys) every month," he said. Wałęsa also said that several of his work-related trips abroad were cancelled.

4000+ flights cancelled globally on Jan 2 due to Omicron, weather

Over 4,000 flights were cancelled and more than 11,000 were delayed on Sunday following disruptions in air travel due to surge of the COVID-19 Omicron variant and adverse weather conditions. As per tracking website FlightAware.com, 2,400 flights departing from or within the US were cancelled. FlightAware also noted that SkyWest and SouthWest airlines recorded the most number of cancellations.

World’s longest Metro line opened in China

Shanghai has opened two new metro lines, upholding its rank as the city with the largest Metro network in the world. With the new lines, the total length of Shanghai’s metro network has extended to 831 km, continuing to be the longest in the world.

China’s Shanghai opened two new metro lines – Line 14 and Phase One of Line 18. The opening of the two new lines will bring the total number of fully automatic metro lines in Shanghai to five, with an operating length of 167 km, ranking first in the world for the first time. The city will now enjoy 20 metro lines with 508 stations, 83 of which are transfer ones.

BANKING, BUSINESS AND ECONOMY

Who is Ashok Elluswamy, first hire for Tesla Autopilot after Musk's tweet?

Tesla CEO Elon Musk recently revealed that Indian-origin techie Ashok Elluswamy was the first person recruited from Musk's tweet about Tesla building its Autopilot team. Elluswamy, the head of Tesla's Autopilot engineering, earned his Bachelor of Engineering degree from Chennai and Master of Science degree from Carnegie Mellon University, US. He's been working with Tesla for more than seven years.
RBL Bank sees over 11% drop in retail, small business deposits in Oct-Dec

RBL Bank witnessed a quarter-on-quarter (QoQ) drop of 11.3% in retail and small business deposits in the October-December quarter. Retail and small business deposits fell to ₹27,871 crore over the quarter. Total deposits in the quarter also fell 2.58% QoQ to ₹73,637 crore. This comes after the bank's MD and CEO Vishwavir Ahuja exited abruptly, reportedly making depositors nervous.

India on track to achieve export target of $400 billion: Piyush Goyal

Union Commerce Minister Piyush Goyal announced on Monday that India has achieved the highest ever monthly exports of $37 billion in December 2021, a 37% year-on-year increase. He added that it is clear that India is well on its way to achieving an export target of $400 billion. "It is a time for Indians to feel proud," Goyal said.

Alka Mittal becomes first woman to head ONGC as its Chairman and MD

Oil and Natural Gas Corporation (ONGC) on Monday announced that its Director (Human Resources) Dr Alka Mittal has been entrusted with additional charge of Chairman and Managing Director (CMD). She has become the first woman to head the energy major, it added. The state-run company had been functioning without a CMD since the retirement of its former chief Subhash Kumar.

RBI extended deadline for Periodic KYC Update till March 31, 2022

The Reserve Bank of India (RBI) has announced that it has extended the deadline for periodic KYC updates by 3 months till March 31, 2022. Extension in view of prevalent uncertainty due to a new variant of COVID-19 – Omicron. Earlier the deadline for periodic KYC updates was December 31.

Meanwhile, the government has also extended the deadline for businesses to file GST annual returns for the 2020-21 fiscal ended March 2021 by two months till February 28.

Important takeaways for all competitive exams:

Reserve Bank of India Founded: April 1, 1935;

Reserve Bank of India Headquarters: Mumbai, Maharashtra;

Reserve Bank of India Governor: Shaktikanta Das.

GST Collection Stood At Rs 1.29 Lakh Crore in December 2021

GST revenue collected in December 2021 was over Rs 1.29 lakh crore, 13 per cent higher than the same month in 2020.

The gross GST revenue collected in the month of December 2021 is ₹ 1,29,780 crore, of which CGST is ₹ 22,578 crore, SGST is ₹ 28,658 crore, IGST is Rs 69,155 crore (including Rs 37,527 crores collected on import of goods) and cess is Rs 9,389 crore.

Tech Mahindra to acquire 100 percent stake in Allyis India, Green Investments

Tech Mahindra has approved a proposal for the acquisition of a 100 per cent stake in Allyis India and Green Investments, for a total consideration of up to USD 125 million.

The acquisition will bolster Tech Mahindra’s capabilities in Digital Experience Solutions, Learning & Development, Marketing, Instructional Design; Engineering: Cloud & Automation, BI & Analytics, Technical support services.

Tech Mahindra will pay total consideration of up to $125 million, including employment-related and performance-related earnouts, as per a regulatory update filed with the exchanges.

Allyis India Pvt Ltd and Green Investments LLC offer technology consulting and managed services for organisations to help reduce costs, improve performance, and meet their objectives. Allyis India Pvt Ltd was incorporated in 2018 whole Green Investments LLC was incorporated in 2013.

Important takeaways for all competitive exams:

Tech Mahindra CEO: C. P. Gurnani;

Tech Mahindra Headquarters: Pune;

Tech Mahindra Founder: Anand Mahindra;

Tech Mahindra Founded: 1986.

IRDAI: LIC, GIC Re and New India systemically important insurers

Insurance regulator, Insurance Regulatory and Development Authority of India (Irdai) has stated that LIC, GIC Re and New India continue to be identified as Domestic Systemically Important Insurers (D-SIIs) for 2021-22.

D-SIIs refer to insurers of such size, market importance and domestic and global interconnectedness, whose distress or failure would cause significant dislocation in the domestic financial system.

Important takeaways for all competitive exams:

IRDAI Founded: 1999;

IRDAI Headquarters: Hyderabad;

IRDAI Chairperson: Subhash Chandra Khuntia.
Visa, Mastercard will be biggest business losers of 2022: Billionaire Chamath

Sri Lankan-born Canadian venture capitalist Chamath Palihapitiya in a podcast said, "My biggest business losers for 2022 are Visa and Mastercard and traditional payment rails and the entire ecosystem around it." The billionaire said these payments systems are a "completely contrived duopoly that doesn't need to exist". He added that these companies will lose out to Web3-based payment projects.

LIC inaugurates Digi Zone to sell policies online

Life Insurance Corporation (LIC) of India has inaugurated “Digi Zone”, at Bandra Kurla Complex, Mumbai, as part of its effort to enhance its digital footprint.

LIC’s Digi Zone can be used by the customers to purchase policies online, pay the premium and avail of other services. As a part of its efforts to become a tech-driven life insurer, LIC will offer information related to its products and services through kiosks installed on the Digi Zone premises.

Customers can use LIC’s Digi Zone to buy policies online, pay the premium and avail of other services. LIC plans to undertake the next wave of digital transformation to unlock several benefits of accelerating growth, driving customer satisfaction and improving intermediary productivity and loyalty.

Important takeaways for all competitive exams:

LIC Chairperson: M R Kumar;

LIC Headquarters: Mumbai;

LIC Founded: 1 September 1956.
RBI releases framework for small value digital payments without internet

The RBI released a framework for small value offline digital payments that don't require internet or telecom connectivity. Such payments can be carried out face-to-face using instruments like cards, wallets or mobile devices. Transactions are subject to a limit of ₹200 per transaction and an overall limit of ₹2,000 for all transactions until the balance in the account is replenished.

Nirmala Sitharaman chairs 46th GST council meet in Delhi

The GST Council’s 46th meeting was held in New Delhi under the chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman.

The GST Council has recommended deferring the decision to change the rates in textiles recommended in the 45th GST Council meeting. Consequently, the existing GST rates of 5 % instead of 12% in textile sector would continue.

This convention attains special significance as it comes days ahead of Sitharaman presenting the much-anticipated Union Budget 2022-23 on February 1, for which she has been holding a series of pre-budget consultations with stakeholders.

Sports News

Ranji Trophy to proceed as planned: Ganguly amid rising COVID-19 cases

BCCI President Sourav Ganguly confirmed on Monday that the upcoming edition of the Ranji Trophy will "proceed as planned" amid rising COVID-19 cases in the country. It's scheduled to be played from January 13 to March 20. Kolkata will be hosting neutral group stage matches as well as knockouts. Earlier in the day, Cricket Association of Bengal (CAB) announced suspension of local tournaments.

Pak's Hafeez retires from international cricket aged 41 after debuting 18 years ago

Pakistan all-rounder Mohammad Hafeez has retired from international cricket aged 41, ending a career that spanned over 18 years. Hafeez scored 12,780 runs and took 253 wickets in 392 international matches. Hafeez said, "I've earned and accomplished more than I had initially envisaged and for that, I'm thankful to all my fellow cricketers, captains, support staff and Pakistan Cricket Board."

India defeat Sri Lanka in U-19 Asia Cup 2021 finals

India has lifted the under-19 Asia cricket Cup by defeating Sri Lanka by nine wickets in a rain-interrupted One-Day International final in Dubai through the Duckworth-Lewis-Stern method.

In the match, Sri Lanka opted to bat first and scored 106 for nine in the stipulated 38 overs. India, who have won a record seven Asia Cup titles, looked a far superior team.

Important Days

DRDO Celebrates 64th Foundation Day on 1st January 2022

The Defence Research and Development Organisation (DRDO) has observed the 64th Foundation Day of its establishment on January 01, 2022. DRDO was established in 1958 with just 10 laboratories to enhance the research work in the Defence sector.

At that time, it was tasked with designing and developing cutting edge defence technologies for the Indian Armed Forces.

As of now, DRDO is working in multiple cutting edge military technology areas, which include aeronautics, armaments, combat vehicles, electronics, instrumentation, engineering systems, missiles, materials, naval systems, advanced computing, simulation, cyber, life sciences and other technologies for defence.

Important takeaways for all competitive exams:

Chairman DRDO: Dr G Satheesh Reddy.

DRDO Headquarters: New Delhi.

DRDO Established: 1958.

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CURRENT AFFAIRS SNIPPETS

04 January 2022

National News
India is in the 3rd wave of coronavirus: COVID-19 task force chief

In an interview, NK Arora, the chairman of the COVID-19 working group of the NTAGI, has said, "We are in the third wave (of COVID-19). There's no doubt about it." He added that there's no need to panic because the government was already prepared in terms of vaccination. He stated that it seems like Omicron variant will overtake other variants.

Sushmita Dev in 31-member Panel to examine bill on raising legal age of marriage

The parliamentary standing committee constituted to examine “The Prohibition of Child Marriage (Amendment) Bill, 2021” comprise of a total of 31 members, including only one women representative.

Out of the total 31 members, TMC MP Sushmita Dev is the sole woman representative in the committee. The Bill seeks to raise the legal age of marriage for women in India from 18 to 21 to bring it at par with men.

The Prohibition of Child Marriage (Amendment) Bill 2021 seeks to amend the “Prohibition of Child Marriage Act, 2006” and seven personal laws, which are: Indian Christian Marriage Act; the Parsi Marriage and Divorce Act; the Muslim Personal Law (Shariat) Application Act; the Special Marriage Act; the Hindu Marriage Act; and the Foreign Marriage Act.

Telangana tops in highest number of ODF villages

Telangana stood first in the country in the list of the highest number of open defecation free (ODF Plus) villages under the Swachh Bharat Mission (Grameen) Phase-II programme till December 31, 2021.

As many as 13,737 out of 14,200 villages in the State are on the ODF Plus list, which is 96.74%. This was followed by Tamil Nadu with 4,432 villages (35.39%) and Karnataka with 1,511 villages (5.59%). Gujarat took the 17th position with only 83 villages (0.45%).

Union Minister Ashwini Vaishnaw launched “India Semiconductor Mission”

Information Technology Minister Ashwini Vaishnaw has launched the India Semiconductor Mission (ISM) to attract large investments for setting up semiconductor wafer fabrication facilities in India.

The companies that are interested are invited by the Centre for the development of the semiconductors and display manufacturing ecosystem in India. ISM is a specialised and independent business division within the Digital India Corporation.

The financial support of up to 50 per cent of the project cost (ceiling of Rs 12,000 crore per fab) will be provided for the scheme for setting up display fabs.

Fiscal support will be provided on ‘pari-passu’ basis for a period of six years from the date of approval both for semiconductor fabs and display fabs.

International News

Ex-UK PM Tony Blair joins top royal order

Former British Prime Minister Tony Blair, the Duchess of Cornwall, and Baroness Amos are to be appointed as members of the Order of the Garter, England's oldest and most senior order of chivalry.

The former prime minister now will be known as 'Sir Tony'. The appointments are the personal choice of the Queen, who has up to 24 "knight and lady companions". The ceremonial order, founded in 1348, is a recognition of significant public service and made without prime ministerial advice.

Under Sir Tony's leadership, the UK joined the US-led invasions of Iraq and Afghanistan - an official inquiry into the 2003 Iraq war was strongly critical of his government and UK military chiefs. He famously referred to Diana, Princess of Wales, as the "people's princess" after her death.

German President Steinmeier set for 2nd term as Greens endorse him

Frank-Walter Steinmeier is all set to become the German President for a second term after the environmentalists, Greens came out to endorse him. This comes after the Social Democrats and the Free Democrats had backed Steinmeier. The President will be elected on February 13 by a special assembly made up of lower house MPs and representatives of 16 German states.

China's 'artificial sun' sets new record, runs at 70 million Celsius for 1,056 secs

China's Experimental Advanced Superconducting Tokamak (EAST), dubbed the 'artificial sun', set a new world record by running at a plasma temperature of 70 million Celsius for 1,056 seconds. EAST aims to create nuclear fusion like the Sun using deuterium from the sea to provide clean energy. Scientists say raw materials required for the 'artificial sun' are almost unlimited on earth.

Russia's test-fires new hypersonic Tsirkon missiles 2022

Russia successfully test-fired around 10 new Tsirkon (Zircon) hypersonic cruise missiles from a frigate and other two missiles from a submarine.

The Zircon missile would be capable of flying at nine times the speed of sound and have a range of 1,000 kilometres (620 miles).

The Tsirkon Cruise Missile will join Avangard glide vehicles and the air-launched Kinzhal (Dagger) missiles in Russia’s hypersonic arsenal.

Zircon is intended to arm Russian cruisers, frigates and submarines. It is one of several hypersonic missiles under development in Russia. The launch was the latest in a series of tests of Zircon, which is set to enter service next year.

Russia Capital: Moscow;

Russia Currency: Rouble;

Russia President: Vladimir Putin.

BANKING, BUSINESS AND ECONOMY

State Bank of India invests $20 million in Pine Labs

Merchant commerce platform Pine Labs on Tuesday announced that the State Bank of India (SBI) has invested $20 million in the startup. Pine Labs had raised $700 million in funding across two rounds last year. "We are thrilled to have the largest bank of India, the State Bank of India, place their trust in us," its CEO Amrish Rau said.

Future Group's pleas to end arbitration with Amazon dismissed by HC

Delhi High Court has dismissed petitions filed by Future Group companies seeking to quash the arbitration proceedings initiated by Amazon in Singapore. Future Group had asked the court to end proceedings citing a CCI order passed in December, suspending a 2019 deal between Amazon and Future Coupons. Justice Amit Bansal said the filings were dismissed, without giving any further details.

SBI, HDFC Bank in RBI's 2021 list of 'Domestic Systemically Important Banks'

The Reserve Bank of India (RBI) on Tuesday said that SBI, ICICI Bank and HDFC Bank continue to be identified as 'Domestic Systemically Important Banks' (D-SIBs). According to the RBI, SIBs are banks that are 'too big to fail' and are, therefore, subjected to additional policy measures to deal with the systemic risks and moral hazard issues posed by them.

NTPC plans to buy 5% equity in Power Exchange of India Ltd

State-owned power generation company NTPC Ltd. is set to acquire a 5 per cent equity stake in Power Exchange of India Ltd (PXIL).

It must be noted that the government is planning to expand the share of the spot power market in the total electricity supply in India to 25 per cent by 2023-24. At present, the size of short-term power trading is about 5 per cent.

About Power Exchange of India Ltd:

It was incorporated on February 20, 2008, as India’s first institutionally promoted power exchange.

PXIL provides various electricity trading solutions and helps in connecting buyers with sellers.

The authorised share capital of the PXIL is Rs 120 crore and the paid-up capital is Rs 58.47 crore.

GoI keeps interest rates on Small Savings Schemes unchanged

The interest rates on the small savings schemes will remain the same for the fourth quarter of 2021-2022 (January – February – March 2022) as they were in the third quarter of 2021-22 (October-December 2021).

It must be noted that West Bengal is the highest contributor to the small saving schemes while Uttar Pradesh is the second top contributor. Also remember, the government notifies the Interest rates for small savings schemes on a quarterly basis.

Various Interest Rates for Quarter-4 (Jan-March) of 2021-22:

S.No Small Savings Scheme Interest Rate

1 Post Office Savings Account 4%

2 5-Year Post Office Recurring Deposit (RD) Account 5.8%

3 Post Office Time Deposit (TD) Account – One Year 5.5%

4 Post Office Time Deposit Account (TD) – Two Years 5.5%

5 Post Office Time Deposit Account (TD) – Three Years 5.5%

6 Post Office Time Deposit Account (TD) – Five Years 6.7%

7 Post Office Monthly Income Scheme Account (MIS) 6.6%

8 Senior Citizen Savings Scheme (SCSS) 7.4%

9 15-Year Public Provident Fund Account (PPF) 7.1%

10 National Savings Certificates (NSC) 6.8%

11 Kisan Vikas Patra (KVP) 6.9%

12 Sukanya Samriddhi Account 7.6%

SEBI reconstitutes its primary market advisory committee

Capital markets regulator, Securities and Exchange Board of India has restructured its primary market advisory committee on data. The committee aims to measure pertaining to areas such as securities market data access and privacy.

Sebi has appointed Professor at National Law University, Delhi and former chairperson, Insolvency and Bankruptcy Board of India S Sahoo as Panel Head. Earlier this panel was headed by Madhabi Puri Buch, an ex-whole time member of Sebi.

The scope of the work of the committee includes identifying segment-wise data perimeters, data needs and gaps, recommending data privacy and data access regulations applicable to market data. It is responsible for recommending appropriate policy for access to securities market data.

In addition, the committee recommends standardization of data definitions; data identification logic ( usage of uniform codes for identifying and storing data - raw data and derived data) and data validation techniques (single source of truth, validation).

BMW India sells 8,876 cars in 2021, sales surge by 34%

BMW India reported a year-on-year (YoY) growth of 34% with a dispatch of 8,876 units in 2021, recording the highest growth in a decade in India. The automaker dispatched 8,236 BMW and 640 Mini units last year compared to 6,604 units across BMW and Mini brands in 2020. The company generated over 40% sales from its locally assembled SAV range.

Science and Technology News

Covid-19 new variant 'IHU' discovered in France

Scientists and experts in France have reportedly identified a new variant of COVID-19 termed ‘IHU’. The new variant is said to be a more mutated strain than Omicron.

The B.1.640.2 or IHU variant was first identified by the academics at institute IHU Mediterranee Infection and contains 46 mutations, which is more than Omicron.

Nearly 12 cases of this new variant have been reported near Marseilles and has been linked to the African country Cameroon.

But, the Omicron strain is still dominating in most parts of the world.

This new variant can be a major threat, however, the cases have not been reported so far in countries other than France and is not labelled as ‘variant under investigation’ by the World Health Organisation (WHO).

Sports News

Nick Kyrgios withdraws from Melbourne Summer Set due to asthma

Australian tennis player Nick Kyrgios has withdrawn from the Melbourne Summer Set event due to asthma. "I have been feeling run down and unwell for four days. I have had several COVID tests over the last few days which all came back negative," he stated. Kyrgios was set to face Alex Molcan in the first round of the event.

Important Days

World Braille Day Observed on 04 January 2022

World Braille Day is observed globally on 4th January since 2019. The day aims to recognize the right of access to braille by blind people and raise awareness of the importance of braille as a means of communication in the full realization of the human rights for blind and partially sighted people.

The day is marked remembering the birth anniversary of Louis Braille, the inventor of Braille – for people with visual disabilities. Louis Braille was born on 4th January 1809 in the town of Coupvray in northern France.

Braille is a tactile representation of alphabetic and numerical symbols using six dots to represent each letter and number, and even musical, mathematical and scientific symbols. Braille (named after its inventor in 19th century France, Louis Braille) is used by blind and partially sighted people to read the same books and periodicals as those printed in a visual font.

Obituaries News

Bollywood film producer Vijay Galani passes away

Bollywood film producer Vijay Galani has passed away. He was suffering from blood cancer and was in London for seeking treatment.

He is known for producing films like Salman Khan’s Suryavanshi (1992), Govinda and Manisha Koirala’s Achanak (1998), Akshay Kumar’s Ajnabee (2001), Paresh Rawal and Mallika Sherawat’s Bachke Rehna Re Baba (2005), Salman Khan’s Veer (2010). His last production venture was Vidyut Jammwal and Shruti Haasan’s The Power (2021).

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05 January 2022

National News
COVID-19 R-value has risen to 2.69, higher than peak of 2nd wave: Govt

During the Health Ministry briefing amid rising COVID-19 cases, NITI Aayog's Dr VK Paul stated that COVID-19 R-value has risen to 2.69, which is higher than the peak of the second wave (1.69). The R-value is a way of rating disease's ability to spread. R-value of 2.69 means every 100 infected people can spread the infection to 269 people.

Absconding ex-TN minister arrested in job-related cheating cases

Ex-Tamil Nadu minister and AIADMK leader Rajenthra Bhalaji, who was absconding in two job-related cheating cases, was arrested on Wednesday. As per reports, Bhalaji collected around ₹3 crore from people by promising them jobs in the state-run dairy corporation Aavin. He has been absconding since Madras High Court dismissed his anticipatory bail petitions in both the cases on December 17.

Leaves of all Delhi govt staff cancelled to handle COVID-19 surge

The Delhi Disaster Management Authority (DDMA) has cancelled leaves of all Delhi government officers and staff to ensure adequate manpower to handle rising COVID-19 cases. It also asked them to not leave the station. Delhi reported 10,665 new COVID-19 cases and eight deaths in the last 24 hours, while the positivity rate rose to 11.88%.

Odisha's Ganjam district is now child marriage free

Odisha’s Ganjam has declared itself a child marriage free district, the first in the State. The district administration has been able to stop as many as 450 child marriages and video-record 48,383 marriages in two years — 2020 and 2021.

After verification, the Ganjam administration declared it a child marriage free district. Sarpanchs and task force committee members had sent recommendations that no child marriage had taken place in their respective areas.

Ganjam had started a programme Nirbhaya Kadhi (Fearless bud). All heads of educational institutes were directed to inform the administration if any girl aged between 12 and 18 remained absent from school for five days.

As many as one lakh teenagers have undergone counselling in the past two years. The administration also made the production of Aadhaar cards mandatory for any marriages to take place.

Odisha Capital: Bhubaneswar;

Odisha Governor: Ganeshi Lal;

Odisha Chief Minister: Naveen Patnaik.
Stop all political rallies: Rajasthan CM urges Election Commission

Rajasthan Chief Minister Ashok Gehlot on Wednesday urged the Election Commission to stop all political rallies in poll-bound states in view of rising COVID-19 cases. He said that due to constitutional provisions, elections cannot be postponed but rallies can be stopped. He added that in the era of information technology, political parties must adopt modern methods of publicity.

Ladakh celebrated traditional new year ‘Losar Festival’

The Losar Festival in Ladakh is celebrated at the onset of the New Year in the traditional schedule of Tibetan Buddhism. It is celebrated by the Buddhist Community in the Ladakh region.

The Losar is a 15 days festival, from the start of the Tibetan Lunar calendar, marking the 1st day of the 11 months in the Tibetan Calendar. Losar is a Tibetan word that means ‘New Year’.

The festivities began with the celebration of Birth and Nirvana Anniversary Je Tsongkhapa with illuminations of religious places like Monasteries, Stupas, residential and other places. The eve of the Losar festival is also celebrated with memorial food offerings for the departed loved ones.

Other popular festivals of Ladakh:

Phyang Tsedup Festival

Dosmoche Festival

Hemis Festival

Education Minister Dharmendra Pradhan launches NEAT 3.0

Union Minister of Education, Dharmendra Pradhan has launched National Educational Alliance for Technology (NEAT 3.0), and regional language textbooks prescribed by the All India Council for Technical Education (AICTE).

NEAT 3.0 aims to provide the best-developed ed-tech solutions and courses to students on a single platform. It will be beneficial especially among the economically disadvantaged students. It is a Public-Private Partnership model between the Government (through its implementing agency AICTE) and the Education Technology companies.

58 global and Indian ed-tech startup companies have come together for this solution and are offering 100 courses and e-resources to enhance learning outcomes, developing employable skills as well as overcome learning loss.

The collaboration of global ed-tech companies and Indian start-ups by way of NEAT will help to build on the digital education bedrock of India.

International News

China opens its longest underwater highway tunnel fitted with LED lights

China has opened its longest underwater highway tunnel to vehicle traffic after nearly four years of construction. The 10.79-km-long 'Taihu' tunnel has been built under Lake Taihu in eastern China's Jiangsu Province, about 50 kilometers east of Shanghai. The ceiling of the underwater tunnel has been fitted with LED lights to prevent driver fatigue.

Apple becomes world’s first company to hit $3 trillion M-Cap

The stock market value of Apple Inc. hit $3 trillion and became the world’s first company to do so. The market cap of Apple hit $182.86 per share, which made it the world’s first company to touch the $3 trillion mark.

However shortly after hitting the mark, the share value dipped below it and did not rise again until the market closed. The iPhone maker passed $2 trillion in 2020 and over $1 trillion in 2018.

The world's most valuable company reached the milestone as investors bet that consumers will continue to shell out top dollar for iPhones, MacBooks and services such as Apple TV and Apple Music.

In China, the world's largest smartphone market, Apple continued to lead for the second straight month, beating rivals such as Vivo and Xiaomi, recent data from CounterPoint Research showed.

Apple Inc. CEO: Tim Cook;

Apple Inc. Founded: 1 April 1976, California, United States;

Apple Inc. Headquarters: Cupertino, California, United States;

Apple Inc. Founders: Steve Jobs, Steve Wozniak, Ronald Wayne.

Sudan's Prime Minister Abdalla Hamdok announces resignation

Prime Minister of Sudan, Abdalla Hamdok has announced his resignation on January 02, 2022. The decision follows a military coup that caused political deadlock and widespread pro-democracy protests in the country.

The 66-year-old Hamdok served as the 15th Prime Minister of Sudan from 2019 to 2022.

Mr Hamdok called for a dialogue to agree on a “national charter” and to “draw a roadmap” to complete the transition. The October coup had upended Sudan's plans to move to democracy after a popular uprising forced the military’s overthrow of longtime autocrat Omar al-Bashir and his Islamist government in April 2019.

Sudan Capital: Khartoum; Currency: Sudanese pound.

BANKING, BUSINESS AND ECONOMY
Jet Airways' CEO Sudhir Gaur steps down ahead of relaunch

Jet Airways' CEO Sudhir Gaur stepped down from his position today ahead of the airline's relaunch. He will be replaced by former JetLite Senior VP (Operations) PP Singh. Jet Airways' owner, the Jalan Kalrock Consortium, had said in September that it will restart operations with a New Delhi to Mumbai flight and shift the airline's headquarters from Mumbai to Delhi-NCR.

NCLAT sets Twin Star's plan for Videocon aside, allows fresh bidding

The National Company Law Appellate Tribunal (NCLAT) on Wednesday set aside Twin Star Technologies' plan to buy Videocon Industries for ₹2,962 crore and allowed a fresh round of bidding for the company. While setting aside the plan, NCLAT said the plan had certain defects. Twin Star's plan to buy Videocon had earlier been approved by the National Company Law Tribunal.

RBI named Ajay Kumar Choudhary and Deepak Kumar as new Executive Directors

The Reserve Bank of India (RBI) has appointed Deepak Kumar and Ajay Kumar Choudhary as new executive directors (ED) with effect from 03 January.

Prior to being promoted as ED, Deepak Kumar was heading the department of information technology of RBI, while Ajay Choudhary was Chief General Manager-in-Charge, Department of Supervision.

Kumar has over a span of three decades working in RBI’s central office departments covering policy making and project management functions in the areas of information technology, cyber security, payment systems, currency management, human resource management, banking supervision, foreign exchange management.

Meanwhile, Choudhary has, over a span of three decades, served in supervision, regulation, currency management, payments and settlements, and other areas in the Reserve Bank, in its Central Office as well as Regional Offices. He will look after the fintech department, risk monitoring department and inspection department.

RBI approved Fino Payments Bank for international remittance business

Reserve Bank of India has approved Fino Payments Bank for commencing international (Cross Border) remittance business under the Money Transfer Service Scheme (MTSS). The approval will enable the customers of Fino Payments Bank to receive money sent from foreign countries.

The Bank plans to implement the service in its mobile applications as well and it also plans to partner with more leading money transfer operators (MTOs) to improve its cross-border remittance.

Chairman of Fino Payments Bank: Prof Mahendra Kumar Chouhan.

Fino Payments Bank established: 13 July 2006.

MD & CEO of Fino Payments Bank: Rishi Gupta.

Headquarters of Fino Payments Bank: Mumbai, Maharashtra.

RBI Retains SBI, ICICI Bank, HDFC Bank as D-SIBs 2022

Reserve Bank of India has retained State Bank of India, ICICI Bank and HDFC Bank as Domestic Systemically Important Banks (D-SIBs). These three banks have continued to be on the D-SIBs list published by RBI, since Sep 04, 2017.

Domestic Systemically Important Banks are those banks which if fail would have a significant impact on the economy. The D-SIBs banks are classified into 5 buckets. Bucket 1, Bucket 2, Bucket 3, Bucket 4 and Bucket 5.

With Bucket 5 being the most important followed by rest in decreasing order. State Bank of India is in Bucket 3, while ICICI Bank and HDFC Bank are in Bucket 1. The updated list is based on the data collected from banks as of March 31, 2021.

RBI: Airtel Payments Bank gets scheduled bank status

Airtel Payments Bank has been categorised as a scheduled bank by the Reserve Bank of India (RBI) in the second schedule of the Reserve Bank of India Act, 1934. With this, Airtel Payments Bank can now pitch for the government.

Airtel Payments Bank is among the fastest-growing digital banks in the country, with a base of 115 million users. It offers a suite of digital solutions through the Airtel Thanks app and a retail network of over 500,000 neighbourhood banking points. The bank turned profitable in the quarter ended September 2021.

Airtel Payments Bank’s MD and CEO: Nubrata Biswas.

Airtel Payments Bank Headquarters: New Delhi.

Airtel Payments Bank Founded: January 2017.

Nippon India MF launches India’s first Auto ETF

Nippon Life India Asset Management Limited, asset manager of Nippon India Mutual Fund (NIMF), has announced the launch of India’s First Auto sector ETF - Nippon India Nifty Auto ETF.

Nippon India Nifty Auto ETF will predominantly invest in stocks comprising of the Nifty Auto Index in the same proportion as the Index. It will provide exposure to Top 15 (as per Nifty Auto Index methodology) companies representing auto-related sectors like Automobiles 4 wheelers, Automobiles 2 & 3 wheelers, Auto Ancillaries, and Tyres.

The Nippon Auto ETF will start operation from January 5, 2022 to January 14, 2022. The minimum investment amount required is Rs 1,000 and in multiples of Rs 1 aftermath.

The investment objective of the scheme is “to provide investment returns closely corresponding to the total returns of the securities as represented by the Nifty Auto Index before expenses, subject to tracking error. However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved.

Obituaries News

Legendary Kenyan Conservationist and Fossil-hunter Richard Leaky passes away

World-renowned Kenyan politician, conservationist and fossil hunter Richard Leakey has passed away. The legendary paleoanthropologist is credited for the discovery of ‘Turkana Boy’ in 1984 which led to groundbreaking discoveries proving that humankind evolved in Africa.

Turkana boy is the most complete fossil Skelton of a human ancestor ever found. Paleoanthropology is the study of human evolution through fossil and archaeological records. Leakey is also known to spearhead campaigns against the ivory trade to save the population of African elephants.

Indian Navy's 1971 war veteran Vice Admiral S H Sarma passes away

The Indian Navy's 1971 Indo-Pak war veteran Vice Admiral S.H. Sarma has passed away, at the age of 100. He was the Flag Officer Commanding Eastern Fleet during the 1971 war. India had defeated Pakistan in the 1971 war leading to the creation of Bangladesh.

Vice Admiral Sarma had celebrated his 100th birthday on December 1 last year. He also took part in the Azadi ka Amrut Mahotsav celebration in Delhi recently. Sarma was the Flag Officer Commanding Eastern Fleet during the 1971 war. India had defeated Pakistan in the 1971 war leading to the creation of Bangladesh.

Social worker Sindhutai Sapkal passes away Known as ‘orphan children’s mother’, she died of heart attack at a private hospital

Renowned social worker Sindhutai Sapkal, fondly known as ‘orphan children’s mother’, died following a heart attack at a private hospital here, doctors said. Sapkal, who had received the Padma Shri last year, had completed 74 years in November. Sapkal, who grew up in extreme poverty, went on to set up institutes for orphan children. Born on November 14, 1948, in Wardha district of Maharashtra, Sapkal was forced to drop out of school after she had passed Class IV. At the tender age of 12, she was married to a 32yearold man. After she gave birth to three children, her husband abandoned her even when she was pregnant. Her mother and the village where she had grown up refused to help, forcing her to beg to raise her daughters at one point. She overcame these circumstances with sheer willpower and started working for orphans. Having raised over 1,050 orphan children, she could boast of having 207 sonsinlaw and 36 daughtersinlaw

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