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26th February 2022

National News

MSME Technology Centre to be set up in Sindhudurg

Union Minister for Micro, Small & Medium Enterprises (MSME), Narayan Rane has announced the establishment of MSME-Technology Centre with an outlay of Rs. 200 Crore, in Sindhudurg, Maharashtra.  The MSME-Technology Centre will provide the best of technology, incubation as well as advisory support to the industry, especially MSMEs, to enhance their competitiveness and provide skilling services for the employed and unemployed youth of the area to enhance their employability.  The Ministry is presently focussing to create a benchmark for MSMEs across the country by scaling them to new heights in terms of exports, quality of products, contribution to GDP and providing World-class infrastructure to all MSMEs in India.

Digital India CEO Abhishek Singh appoints National e-Governance Division chief

1995-batch IAS officers and Digital India Corporation CEO, Abhishek Singh as new National e-Governance Division chief. The 1995-batch IAS officer from Nagaland cadre will hold the position in the rank and pay of Additional Secretary.  The officer will proceed to carry the extra cost of the put up of Managing Director & Chief Government Officer, Digital India Company. The 1995-batch IAS officer from Nagaland cadre will maintain the place within the rank and pay of Extra Secretary.

Business, Banking and Economy

Bharti Airtel to acquire 4.7% stake of Vodafone in Indus Towers

Bharti Airtel has decided to acquire an additional 4.7 per cent stake in Indus Towers from Vodafone Group, the company announced. The two companies signed an agreement on the condition that Vodafone will use the proceeds to invest in Vodafone Idea (Vi) and the latter will clear its pending dues with Indus Towers.  In addition, Airtel is also protected with a capped price, which is lower than the price for the block of Indus shares sold by Vodafone on February 24. This shall be value accretive to Airtel and protect its existing significant shareholding in Indus Towers. With the acquisition, Airtel’s shareholding in Indus Towers will increase to 46.4 per cent. Vodafone holds a 28.1 per cent stake in the company at present and its shareholding will reduce to 21 per cent.




Triple talaq cases down by 80% after law passed: PM in Mann Ki Baat

short by Ramanpreet Singh Virdi / 05:21 pm on 27 Feb 2022,Sunday

Prime Minister Narendra Modi on Sunday said after the law against triple talaq was passed, there has been an 80 per cent decrease in such incidents. "Social evils...are...coming to an end," he said during his Mann Ki Baat address. "The country is trying to give equal rights to sons and daughters by fixing a common age for marriage," he added.





EU to fund purchase, delivery of weapons for Ukraine for the 1st time in history

Speaking about the Russia-Ukraine issue, President of the European Union commission Ursula von der Leyen on Sunday announced that for the first time ever, the EU will finance the purchase and delivery of weapons and equipment to a country under attack. She added that the EU will close its airspace for all Russian planes, including the private planes of oligarchs.

France, Canada join others to close airspace to Russian planes

short by Shailesh / 10:36 pm on 27 Feb 2022,Sunday

France and Canada on Sunday became the latest countries to close their airspace to all Russian aircraft in response to the invasion of Ukraine. Germany, Austria, Italy, Poland, Estonia, Latvia and Lithuania are among the nations that have banned Russian planes from their respective airspace. "We'll hold Russia accountable for its...attacks against Ukraine," the Canadian Transport Minister said.

Black belt Putin suspended as Honorary President of Int'l Judo Federation

short by Pragya Swastik / 07:46 pm on 27 Feb 2022,Sunday

The International Judo Federation on Sunday suspended Russian President Vladimir Putin's status as Honorary President and Ambassador of the International Judo Federation, citing the ongoing war in Ukraine. Russia's invasion by land, air and sea in Ukraine on Thursday followed a declaration of war by Putin. A judo black belt, the 69-year-old is a keen practitioner of the discipline.



FPIs withdraw net ₹35,506 cr in Feb 2022, highest since March 2020

short by Ashley Paul / 08:55 pm on 27 Feb 2022,Sunday

Foreign portfolio investors (FPIs) withdrew net ₹35,506 crore in the month of February 2022, the highest amount withdrawn by FPIs since March 2020 at ₹1,18,203 crore. FPIs have been net sellers since October 2021. During February 1-25, FPIs pulled out ₹31,158 crore from equities and ₹4,467 crore from the debt segment, according to depositories’ data.


Compensation for death in hit & run cases raised from ₹25k to ₹2 lakh: Govt

short by Deepika Bhatt / 08:43 pm on 27 Feb 2022,Sunday

The Centre has increased the compensation for hit and run accident victims with effect from April 1. The compensation has been increased from ₹12,500 to ₹50,000 for grievous hurt and from ₹25,000 to ₹2,00,000 in case of death. The new scheme will be applicable for all roads and highways across India, the Ministry of Road Transport and Highways said.


India's oil imports to cross $100 bn in FY22, almost twice of FY21

short by Ashley Paul / 04:47 pm on 27 Feb 2022,Sunday

India's oil import bill is set to cross the $100 billion mark in FY22, almost double of what it spent in FY21 at $62.2 billion. India has already spent $94.3 billion on oil imports between April 2021 and January 2022. India imported oil worth $11.6 billion in January 2022, a 50.6% YoY rise against $7.7 billion spent in January 2021.


Rohit Sharma breaks world record for playing most men's T20Is

short by Anmol Sharma / 08:54 pm on 27 Feb 2022,Sunday

Team India captain Rohit Sharma has broken the world record for playing most men's T20I matches. India's third T20I against Sri Lanka is Rohit's 125th match in T20I cricket. Rohit overtook veteran Pakistani all-rounder Shoaib Malik, who has played 124 T20I matches. Notably, Rohit is the only Indian to have played 100 or more T20Is for India so far.








Standard Chartered tie up with IATA for payment platform for airline industry

Global banking group Standard Chartered has partnered with the International Air Transport Association (IATA) to launch a payment platform for the airline industry in India.  IATA Pay will be a new payment option that enables participating airlines to offer instant payment options such as UPI Scan and Pay and UPI Collect (Request to Pay). Standard Chartered will be supporting the rollout of IATA Pay in other markets as well.  IATA Pay in India is powered by Standard Chartered’s Straight2Bank Pay, a payment platform that helps online merchants digitalise collections via multiple payment options through single global connectivity.

Brickworks Ratings lowers India’s GDP to 8.3% in FY22

Brickworks Ratings has revised downwards India’s GDP growth forecast to 8.3 per cent in the current fiscal 2021-22 (FY22). Earlier in January 2022, the rating agency had estimated this between 8.5-9 per cent.  Brickwork Ratings is one of the seven Sebi-registered credit rating agencies (CRA). The latest growth indicators suggest a loss of economic momentum in recent months. The rapid spread of Covid in January 2022 led to renewed restrictions on economic activities, dampening the revival process, particularly in contact-intensive sectors.

Union Bank launches ‘Union MSMERuPay Credit Card’

The Union Bank of India has launched the ‘Union MSME RuPay Credit Card’ in association with the National Payments Corporation of India (NPCI). It is a first of its kind initiative in the industry, to provide simplified and digital delivery of Finance to Micro, Small & Medium Enterprises (MSMEs), to meet their business-related operational expenses.  The dedicated card for MSMEs will be available to eligible borrowers of the Union Bank of India. The Union MSME RuPay Credit Card was launched by Union Minister for Micro, Small & Medium Enterprises, Shri Narayan Rane on February 25, 2022, at the two days MSME Conclave being held in Sindhudurg district of Maharashtra.

International IP Index 2022: India ranks 43rd

India has improved its overall IP score from 38.4 per cent to 38.6 per cent, and the country is ranked 43 out of 55 countries on the International Intellectual Property Index 2022.  This index was released by the Global Innovation Policy Center of the U.S. Chamber of Commerce. In July 2021, the Parliamentary Standing Committee on Commerce released a Review of the Intellectual Property Rights Regime in India.  This review is a welcome development and offers a comprehensive and detailed study of the strengths and weaknesses of India's national IP environment.

The top five countries in the ranking are:

Rank 1- United States

Rank 2- United Kingdom

Rank 3- Germany

Rank 4- Sweden

Rank 5- France


Sports News

Mirabai Chanu wins gold at Singapore Weightlifting International

Indian weightlifter and 2020 Tokyo Olympics silver-medallist, Mirabai Chanu has won the gold medal in the 55kg weight category at the Singapore Weightlifting International 2022 on February 25, 2022.  Chanu lifted 191kg (86kg+105kg) to stand on top of the podium. With this win, the 27-year-old Chanu has qualified for the 2022 Commonwealth Games (CWG) in Birmingham in the 55kg weight category. She has also qualified for the CWG in the 49kg weight category on the basis of her Commonwealth rankings.

Obituaries News

Odisha’s first tribal CM Hemananda Biswal passes away

Odisha’s first tribal chief minister as well as last Congress chief minister of the state, Hemananda Biswal passed away. He was 82. Biswal, a Bhuyan tribal from Jharsuguda district, served as the chief minister twice from 1989 to 1990 and 1999 to 2000.  In December 1999, he was again made chief minister after erstwhile chief minister Giridhari Gamang was replaced over his failure in relief and rehabilitation measures in the aftermath of the 1999 super cyclone that ripped through the Odisha coast. 

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