Daily Current Affairs February 04 2022

 

CURRENT AFFAIRS: IMPORTANT DAYS

World Interfaith Harmony Week: February 01-07

• World Interfaith Harmony Week is observed during the first week of February (1-7 February), after General Assembly designation in 2010.
• The World Interfaith Harmony Week is based on the pioneering work of The Common Word initiative.
• World Interfaith Harmony Week (WIHW), was conceived to promote cultural peace and nonviolence.
• The World Interfaith Harmony Week was first proposed at the UN General Assembly on September 23, 2010 by H.M. King Abdullah II of Jordan.
• Just under a month later, on October 20, 2010, it was unanimously adopted by the UN and henceforth the first week of February will be observed as a World Interfaith Harmony Week.

CURRENT AFFAIRS: NATIONAL NEWS

MEA organizes outreach programme on Export Controls focusing on start-ups in various sectors of the economy:

• Ministry of External Affairs organised an outreach programme on Export Controls focusing on start-ups in various sectors of the
• The outreach was aimed at enhancing awareness about regulations for the export of sensitive, dual-use goods and technology.
• The outreach programme was organised in cooperation with the Indian Chamber of Commerce.
• About 200 industries and enterprises including several start-up companies participated in the webinar.
• The outreach shared the relevance of export control systems in the context of India’s integration with the global economy, international non-proliferation framework and Government’s flagship initiatives of ‘Make in India’ and ‘Aatma Nirbhar Bharat’.

CCI imposes penalty on Tyre manufacturers and their Association for indulging in cartelization:

• The Competition Commission of India (CCI) had passed a final order against five Tyre companies namely Apollo Tyres, MRF Ltd., CEAT Ltd., JK Tyre and Industries Ltd., Birla Tyres Ltd. and their association i.e. Automotive Tyre Manufacturers Association (ATMA).
• It is for indulging in cartelisation by acting in concert to increase the prices of cross ply/bias tyres variants sold by each of them in the replacement market and to limit and control production and supply.
• The CCI imposed penalties of Rs. 425.53 crore on Apollo Tyres, Rs. 622.09 crore on MRF Ltd., Rs. 252.16 crore on CEAT Ltd., Rs. 309.95 crore on JK Tyre and Rs. 178.33 crore on Birla Tyres, besides passing a cease and desist order.
• In addition, a penalty of 0.084 crore was also imposed on ATMA.
• ATMA was also directed to disengage and disassociate itself from collecting wholesale and retail prices through the member tyre companies or otherwise.

Government increases capital budget of BRO by 40%:

• The Government of India in its Union Budget for FY 2022-23 has increased the capital outlay for the Border Roads Organisation (BRO), by a record 40 percent, to Rs 3,500 crore as compared to Rs 2,500 crore in FY 2021-22.
• In 2021, BRO executed a record number of infrastructure projects, at very high altitudes and in extreme weather conditions, amidst the raging pandemic.
• 102 roads and bridges at various places in the North-Western and Eastern States of the country where dedicated to the nation by Raksha Mantri Shri Rajnath Singh in the year 2021, this includes the World’s highest motorable road at Umling La, 19,024 feet.
• The enhanced budgetary allocation is a reaffirmation of the Government’s resolve to focus on border area development.

Centre implements various schemes for promotion and development of Textile sector:

• Government is implementing various schemes viz the Amended Technology Upgradation Fund Scheme (A-TUFS), Schemes for the development of the Power loom Sector, Scheme for Integrated Textile Parks (SITP).
• SAMARTH- The Scheme for Capacity Building in Textile Sector, Jute, Integrated Processing Development Scheme (IPDS), Silk Samagra, National Handloom Development Programme, National Handicraft Development Programme, Integrated Wool Development Programme (IWDP), National Technical Textile Mission etc. for promotion and development of textile sector on pan-India basis.
• The details of funds allocated/released under various textile sector schemes during the last three years and current year are at Annexure.
• These are ongoing central sector schemes and are totally funded by the Central Government.
• Textile industry is one of the largest source of employment generation in the country with an estimated 45 million people engaged directly in this sector including a large number of women and rural population.

CURRENT AFFAIRS : BANKING & FINANCE

PNB launches co-branded contactless credit cards with Patanjali in partnership with RuPay                                 

• Punjab National Bank (PNB), and Patanjali Ayurved Limited (PAL) have launched co-branded contactless credit cards in partnership with the National Payments Corporation of India (NPCI).
• It can be used at all merchant outlets or online websites that accept RuPay cards.
• The co-branded credit cards are offered on NCPI’s RuPay Platform and are available in two variants – PNB RuPay Platinum and PNB RuPay Select.
• Both the co-branded cards offer a hassle-free credit service to purchase day-to-day Patanjali products, along with cash backs, loyalty points, insurance cover.

Features of Card :

• PNB RuPay Platinum and PNB RuPay Select cardholders will receive a welcome bonus of 300 reward points on activation.
• Platinum and Select cards come with attractive insurance cover for accidental death and individual complete disability of Rs 2 lakh and Rs 10 lakh respectively.
• Platinum cardholders will be given a credit limit of 25 thousand to 5 lakh rupees and select cardholders will be given a credit limit of 50 thousand to 10 lakh rupees.
• The joining fee of the Platinum version is zero and the annual fee is Rs 500, while the joining fee of the Select version is Rs 500 and the annual fee is Rs 750.
• Annual fee will be waived for use of the card at least once in every quarter in the previous year.
• This card is equipped with contactless technology, which also provides the facility of ‘Tap and Pay’ to the customers i.e. payment can be made by simply tapping on the POS machine without swiping the card.

About PNB :

• Founded: 19 May 1894
• CEO: S. S. Mallikarjuna Rao
• Headquarters: New Delhi
• Founder: Dyal Singh Majithia
• Tagline: The Name You Can Bank Upon

About Patanjali :

• Founded: January 2006
• Headquarters : Haridwar, Uttarakhand
• Founder : Balkrishna, Ramdev
• MD : Acharya Balkrishna

About National Payments Corporation of India (NPCI) :

• Founded: 2008
• Headquarters: Mumbai, Maharashtra
• MD & CEO : Dilip Asbe

CRISIL report – India’s GDP growth for FY23 at 7.8%

• Domestic rating agency CRISIL estimated 2022-23 (FY23) real GDP growth at 7.8 percent as compared with the 8.5 per cent projected in the Economic Survey.
• For 2021-22 (FY22) = 9.2%

About CRISIL :

1. Founded: 1987
2. Headquarters: Mumbai, Maharashtra

• MD & CEO : Amish Mehta

1. CFO : Sanjay Chakravarti
2. CRISIL is an Indian analytical company providing ratings, research, and risk and policy advisory services.

CURRENT AFFAIRS : BUSINESS NEWS

Dukaan partners with Simpl to provide Buy Now, Pay Later services to merchants

• Dukaan, a platform that enables small and medium-sized businesses to set up online stores and sell products digitally, has partnered with Simpl, a marquee buy-now-pay-later platform, to provide BNPL services to Dukaan’s merchants.

About Dukaan :

• Dukaan is a Bangalore-based startup that enables D2C and SMB merchants to set up online stores and sell products digitally.
• Established : 2020
• CEO and Co-Founder : Suumit Shah
• It has customers across multiple industries in the D2C space, including food & beverage, fashion, home décor, electronics and digital products.
• The application has integrated with numerous service providers from logistics to fulfillment and is aiming to build the operating system for the modern D2C brand.
• Dukaan has made an application marketplace for further customization of online stores.
• Dukaan empowers small businesses around the country – both online sellers and brick and mortar shops – and helps its sellers’ customers continue to access high-quality products.

About Simpl :

• Founded : 2015
• Co-Founder and CEO : Nitya Sharma
• Simpl is India’s fastest growing Buy Now Pay Later platform, and is on a mission to make payments invisible and money intelligent.
• With Simpl, merchants are able to provide consumers an easy, safe and intuitive user experience.
• It enables merchants to give their customers 1-click checkout, buyer protection and a pay-later facility to allow them to feel safe and trusted when shopping online.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Games24x7 appoints Hrithik Roshan as the brand ambassador of RummyCircle

• Games24x7 announced Hrithik Roshan as the brand ambassador for India’s largest online skill gaming platform, RummyCircle.
• As part of the partnership, Roshan will be seen in multimedia campaigns by RummyCircle, spanning across TV, digital and social media platforms.
• The brand will be unveiling the new campaign #RahoEkKadamAage starring Hrithik via a television commercial starting January 29.
• The campaign highlights real-life scenarios where Hrithik Roshan demonstrates mental dexterity to find a way out of unforeseen situations.

About Games24x7 :

• Games24x7 is an online gaming company with a portfolio that spans skill games (RummyCircle, My11Circle, Carrom) and casual games (U-Games).
• Founded : 2006
• Headquarters : Mumbai, Maharashtra
• Co-founder and CEO : Bhavin Pandya

Lt Gen GAV Reddy appointed as new chief of Defense Intelligence Agency                        

• Lieutenant General GAV Reddy, SC, has been appointed as the new head of the Defence Intelligence Agency.
• He replaced Lieutenant General KJS Dhillon & he was awarded the Param Vishisht Seva Medal on the 73rd Republic Day.
• The Director-General of the Defence Intelligence Agency is the head of the organisation and is among the principal advisors on intelligence to the Minister of Defence and the Chief of Defence Staff.
• The post of the director general is held on a rotation basis between the three Armed services ie) Indian Army, Indian Navy, and Indian Air Force.
• Lt Gen GAV Reddy was previously serving as the ninth Commandant of the prestigious Officers Training Academy (OTA), Gaya.
• He was commissioned into the 9th Battalion of the Jat Regiment on 8 March 1986.

About Defence Intelligence Agency :

• Formed: 1 March 2002
• Headquarters : New Delhi
• The DIA is an intelligence agency responsible for providing and coordinating defence and military intelligence to the Indian Armed Forces.
• It is administered within the Ministry of Defence.
• The first Director-General of the DIA was Lt Gen Kamal Davar, former director-general of the Indian Army’s Mechanised Forces.

About Ministry of Defence :

• Formed: 1776
• Defence Minister : Rajnath Singh
• Minister of State : Ajay Bhatt
• Chief of the Army Staff- General Manoj Mukund Naravane
• Chief of the Naval Staff- Admiral R. Hari Kumar
• Chief of the Air Staff- Air Chief Marshal Vivek Ram Chaudhari

CURRENT AFFAIRS : AWARDS & HONORS

PR Sreejesh becomes first Indian man to win World Games Athlete of the Year Award  

• Veteran Indian hockey goalkeeper PR Sreejesh won the prestigious World Games Athlete of the Year for his 2021 performances.
• He became the first Indian male athlete and second Indian sportsperson overall to win the honor.
• He beat competition from sport climber Alberto Gins Lopez of Spain and Italy’s wushu player Michele Giordano for the award.

Note :

• In 2020, Indian women’s hockey captain Rani Rampal became the first Indian to win the honor for her 2019 show.
• A total of 24 athletes from 17 countries were nominated for the annual awards based on individual or team performance.
• Sreejesh, a former India hockey captain and part of the Tokyo Olympics-bronze medal winning side, received 1,27,647 votes, whereas Lopez and Giordane accumulated 67,428 and 52,046 votes respectively.
• He was the only Indian nominated and was recommended by the International Hockey Federation (FIH).

About PR Sreejesh :

• Sreejesh was born 8 May 1988, in Kizhakkambalam village, in the Ernakulam district of Kerala.
• He represented India at the 2012 London Olympics and then the World Cup in 2014.
• He led the Indian team that won the silver medal at the 2016 Men’s Hockey Champions Trophy held at London.
• At the 2016 Olympics in Rio, Sreejesh led the Indian hockey team to the quarterfinals of the tournament.
• Sreejesh has represented India in 244 senior international matches.
• He played a vital role in the Indian national team’s bronze medal win at the 2020 Summer Olympics men’s field hockey tournament.
• In the FIH Stars Awards in October 2021 , Sreejesh was named the goalkeeper of the year for 2021.

Awards & Honors :

• 2021 – Khel Ratna Award, highest sporting honor of India.
• 2022- “World Athlele Of The Year 2021

About World Athlete of the Year :

• The World Athlete of the Year award is a prize that can be won by athletes participating in events within the sport of athletics organised by World Athletics (formerly named IAAF), including track and field, cross country running, road running, and racewalking.

About International Hockey Federation (FIH) :

• President: Dr Narinder Dhruv Batra
• Headquarters: Lausanne, Switzerland
• CEO: Thierry Weil
• Founded: 7 January 1924

China Honors PLA Galwan Commander As Winter Olympics Torchbearer

• A People’s Liberation Army (PLA) regiment commander who was involved in the Galwan Valley was chosen by the Chinese government to carry the Winter Olympic torch in torch relay in Beijing.
• The ceremony will be attended by President Xi Jinping and more than a dozen world leaders, including Russia’s Vladimir Putin, five Central Asian Presidents and Pakistan Prime Minister Imran Khan.
• He “took the flame from Wang Meng, China’s four-time Olympic short track speed skating champion, at Winter Olympic Park.

About China :

• Currency: Renminbi
• Capital: Beijing
• President: Xi Jinping

New Zealand All-Rounder Daryl Mitchell Wins ICC Spirit Of Cricket Award 2021

• New Zealand batter Daryl Mitchell has been named the recipient of the ICC Spirit of Cricket Award after his gesture in the 2021 ICC Men’s T20 World Cup semi-final against England in Abu Dhabi.
• Mitchell is the fourth New Zealand player to win the award, following in the footsteps of Daniel Vettori, Brendon McCullum and Kane Williamson.

About Daryl Mitchell :

• Daryl Joseph Mitchell represents Canterbury in domestic cricket, and plays for the national team.
• In January 2019, he was named in New Zealand’s Twenty20 International (T20I) squad for their series against India.
• He made his T20I debut for New Zealand against India on 6 February 2019.
• In 2021, Mitchell was named in New Zealand’s squad for the 2021 ICC Men’s T20 World Cup.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Navy Flight Tests Rafale-Marine Fighter Jet For Aircraft Carrier INS Vikrant                      

• The marine version of the French-made Rafale fighter jet has been successfully flight-tested at a shore-based facility in Goa where conditions similar to that on the indigenously-developed aircraft carrier INS Vikrant were simulated.
• The Rafale-M is pitted against the US-made Super Hornet – both of which are being evaluated for a possible purchase by the Indian Navy for deployment on the 44,000-tonne INS Vikrant.

About Rafale-M :

• The Rafale-M jet was tested for 12 days last month at Goa’s INS Hansa facility using a 283 meter mock ski-jump facility.
• The ski-jump ramp uses what naval experts call short take-off but arrested recovery (STOBAR) technology.
• Boeing’s Super Hornet or F/A-18 jet, which is also being offered to India, is expected to undergo similar tests at INS Hansa.
• The suppliers have made modifications to both Rafale-M and Super Hornet to make them suitable for the Indian order.

About INS Vikrant :

• INS Vikrant, also known as the Indigenous Aircraft Carrier 1 (IAC-1) is an aircraft carrier constructed by the Cochin Shipyard Limited (CSL) for the Indian Navy.
• It is the first aircraft carrier to be built in India.
• It is named ‘Vikrant’ as a tribute to India’s first aircraft carrier, Vikrant (R11).
• INS Vikrant is undergoing trials in the Arabian Sea and the Bay of Bengal.
• It has been designed as a ski-jump launch ship, different from many other such carriers, which use a catapult launch for their jets.

Note :

• In 2016, India had placed the order for the jets with Dassault in a fly-away condition.

About Indian Navy :

• Founded: 26 January 1950
• Headquarters : New Delhi, Delhi
• Commander-in-Chief: President Ram Nath Kovind
• Chairman of the Chiefs of Staff Committee : General Manoj Mukund Naravane
• Chief of the Naval Staff : Admiral R. Hari Kumar
• Vice Chief of the Naval Staff : Vice Admiral Satish Namdeo Ghormade
• Deputy Chief of the Naval Staff : Vice Admiral Ravneet Singh

CURRENT AFFAIRS : RANKING & INDEX

LIC becomes world’s 10th most valuable insurance brand – Brand Finance

• According to London-based Brand Finance, a brand consulting firm, Life Insurance Corporation has been ranked at 10th in the list of insurance brands globally.
• LIC has a valuation of USD 8.656 billion (around Rs 64,722 crore) which also makes it the third strongest insurance brand globally.
• The market value of LIC will become Rs 43.40 lakh crore or USD 59.21 billion by 2022, and Rs 58.9-lakh crore or USD 78.63 billion by 2027.
• LIC becomes the world’s 206th most valuable brand in 2021, from 238th slot in 2020.
• The state-owned insurance behemoth gained in brand value by 6.8 percent last year, all other top 100 insurers saw their brand value decline by 6 percent from USD 462.4 billion in 2020 to USD 433.0 billion in 2021.
• Ping An Insurance emerging the world’s most valuable insurance brand, despite recording a 26 per cent drop in brand value.

About LIC :

• Founded : 1 September 1956
• Chairperson: M R Kumar
• Headquarters: Mumbai, Maharashtra
• Managing Director : Mukesh Gupta, Smt. Ipe Mini, Siddharth Mohanty, Rajkumar
• Life Insurance Corporation of India (LIC) is an Indian statutory insurance and investment corporation.
• It is under the ownership of the Ministry of Finance, Government of India.

CURRENT AFFAIRS: SPORTS NEWS

Government approves continuation of Scheme of Assistance to National Sports Federations with an outlay of Rs. 1575 crore:

• The Union Government has approved continuation of Scheme of Assistance to National Sports Federations (NSFs) with an outlay of 1575 crore for XV Finance Commission Cycle (2021-22 to 2025-26).
• The Scheme of Assistance to NSFs is the flagship Central Sector Scheme and the main source of funding for preparation of national teams for all major national and international competitions, including the Olympic Games, Para-Olympics, Asian Games, Para Asian Games, Commonwealth Games (CWG) and other major international tournaments.
• The outlay in the cycle will therefore be extended to NSFs to train and field national teams for national and international competitions between 2022 and 2026, prime among them, the Commonwealth and Asian Games of 2022, Olympics and Paralympics 2024 and Asian and Commonwealth Games in 2026.

UNION GOVERNMENT SCHEME

PM-DevINE’ SCHEME ANNOUNCED

What is the news:

A new scheme, Prime Minister’s Development Initiative for North-East, PM-DevINE was announced by the Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman while presenting the Union Budget 2022-23.

About the scheme:

PM-DevINE will be implemented through the North-Eastern Council.

An initial allocation of Rs. 1,500 crore will be made for the new scheme.

It will fund infrastructure, in the spirit of PM GatiShakti, and social development projects based on felt needs of the North-East.

This will enable livelihood activities for youth and women, filling the gaps in various sectors, the Minister explained.

However, it will not be a substitute for existing central or state Schemes.

While the central ministries may also pose their candidate projects, priority will be given to those posed by the states.

Initial list of projects under pm devine

S.No.	Name of the Project	Total tentative cost (Rs. In crore)
1	Establishment of Dedicated Services for the Management of Paediatric and Adult Haemotolymphoid Cancers in North East India, Guwahati (Multi-State)	129
2	NECTAR Livelihood Improvement Project (Multi-State)	67
3	Promoting Scientific Organic Agriculture in North East Indian (Multi-State)	45
4	Construction of Aizawl By-pass on Western Side	500
5	Gap funding for Passenger Ropeway system for Pelling to Sanga-Choeling in West Sikkim	64
6	Gap funding for Eco-friendly Ropeway (Cable Car) from Dhapper to Bhaleydhunga in South Sikkim	58
7	Pilot Project for Construction of Bamboo Link Road at Different Locations in Various Districts in the State of Mizoram	100
8	Others (to be identified)	537
	TOTAL	1500

Daily CA On Feb 04 :

• World Interfaith Harmony Week is observed during the first week of February (1-7 February), after General Assembly designation in 2010.
• Ministry of External Affairs organised an outreach programme on Export Controls focusing on start-ups in various sectors of the
• The Competition Commission of India (CCI) had passed a final order against five Tyre companies namely Apollo Tyres, MRF Ltd., CEAT Ltd., JK Tyre and Industries Ltd., Birla Tyres Ltd. and their association i.e. Automotive Tyre Manufacturers Association (ATMA).
• The Government of India in its Union Budget for FY 2022-23 has increased the capital outlay for the Border Roads Organisation (BRO), by a record 40 percent, to Rs 3,500 crore as compared to Rs 2,500 crore in FY 2021-22.
• Government is implementing various schemes viz the Amended Technology Upgradation Fund Scheme (A-TUFS), Schemes for the development of the Power loom Sector, Scheme for Integrated Textile Parks (SITP).
• Punjab National Bank (PNB), and Patanjali Ayurved Limited (PAL) have launched co-branded contactless credit cards in partnership with the National Payments Corporation of India (NPCI).
• Domestic rating agency CRISIL estimated 2022-23 (FY23) real GDP growth at 7.8 percent as compared with the 8.5 per cent projected in the Economic Survey.
• Dukaan, a platform that enables small and medium-sized businesses to set up online stores and sell products digitally, has partnered with Simpl, a marquee buy-now-pay-later platform, to provide BNPL services to Dukaan’s merchants.
• Games24x7 announced Hrithik Roshan as the brand ambassador for India’s largest online skill gaming platform, RummyCircle.

• Lieutenant General GAV Reddy, SC, has been appointed as the new head of the Defence Intelligence Agency & he replaced Lieutenant General KJS Dhillon & he was awarded the Param Vishisht Seva Medal on the 73rd Republic Day.
• Veteran Indian hockey goalkeeper PR Sreejesh won the prestigious World Games Athlete of the Year for his 2021 performances & he became the first Indian male athlete and second Indian sportsperson overall to win the honor.
• A People’s Liberation Army (PLA) regiment commander who was involved in the Galwan Valley was chosen by the Chinese government to carry the Winter Olympic torch in torch relay in Beijing.
• New Zealand batter Daryl Mitchell has been named the recipient of the ICC Spirit of Cricket Award after his gesture in the 2021 ICC Men’s T20 World Cup semi-final against England in Abu Dhabi.
• The marine version of the French-made Rafale fighter jet has been successfully flight-tested at a shore-based facility in Goa where conditions similar to that on the indigenously-developed aircraft carrier INS Vikrant were simulated.
• According to London-based Brand Finance, a brand consulting firm, Life Insurance Corporation has been ranked at 10th in the list of insurance brands globally.

• The Union Government has approved continuation of Scheme of Assistance to National Sports Federations (NSFs) with an outlay of 1575 crore for XV Finance Commission Cycle (2021-22 to 2025-26).