Daily Current Affairs February 01 2022 | Latest News | Download PDF

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CURRENT AFFAIRS: NATIONAL NEWS

Nation Pays Homage to Father of the Nation Mahatma Gandhi on his 74th Death Anniversary:

The nation remembered Mahatma Gandhi on his death anniversary on January 30^th with President Ram Nath Kovind and Prime Minister Narendra Modi paying floral tributes to the Father of the Nation at Raj Ghat.
Union minister Hardeep Singh Puri and Lok Sabha Speaker Om Birla too joined Mr. Kovind and Mr. Modi and a two-minute silence was observed in honour of Gandhi, who was assassinated on January 30, 1948.
His death anniversary is observed as Martyrs’ Day.
Remembering Bapu on his Punya Tithi.
It is our collective endeavour to further popularise his noble ideals

Govt. mandates storage of ISD, satphone, conference calls, messages details for 2 years:

The government has mandated storage of international calls, satellite phone calls, conference calls and messages made over normal networks as well as on the internet for a period of at least two years, according to circulars issued by the telecom department.
The move follows an amendment made in the unified licence (UL) in December by the Department of Telecom (DoT) which extended storage of call data records as well as internet logs to two years from earlier provision of one year.
UL holders are telecom companies like Bharti Airtel, Reliance Jio, Vodafone Idea, BSNL for providing all kinds of telecom services, except satellite phone services
The amendment applies to companies like Tata Communications, Cisco’s Webex, AT&T Global Network, who have subscribed to these licences.
A similar amendment has been issued for licence issued to BSNL for providing satellite phone calls and data services as well as for VSAT licence holders who provide satellite based services on January 24 mandating them to maintain call data and internet communications records for at least two years.

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SPMCIL sets up new bank note printing lines at Nashik and Dewas:

Security Printing and Minting Corporation of India Limited (SPMCIL), under its modernisation initiatives, has set up ‘new bank note printing lines’ each at Currency Note Press, Nashik and Bank Note Press, Dewas.
Meera Swarup, Special Secretary & Financial Adviser, Ministry of Finance inaugurated the new bank note printing line at CNP Nashik virtually in the presence of Member of Parliament Hemant Tukaram Godse from Nashik constituency.
Whereas the new bank note printing line inaugurated at Bank Note Press, Dewas was done by Shashank Saksena, Senior Economic Adviser, Department of Economic Affairs, Ministry of Finance,
SPMCIL, a Government of India owned Miniratna company, is engaged in the manufacture/production of Currency and Bank Notes, Security Paper, Non-Judicial Stamp Papers, Postal Stamps, Passport, Visa, Cheques, Bond, etc..,

Govt expects $5.5-b investments in ethanol sector by 2025:

In a bid to push reforms aimed at promoting clean energy, India aims to blend 10 per cent ethanol with petrol this year and double it to 20 per cent by 2025, for which the government expects investments to the tune of $5.5 billion, or roughly ₹41,000 crore in the next three years.
Ethanol blending can help India save on foreign exchange to the tune of $4 billion (around ₹30,000 crore) on an annual basis in its import bill.
The government is expecting an investment of up to $5,541 million to help India achieve its ethanol blending target of 10 per cent by 2022 and 20 per cent by 2025.
On June 5, 2021, Prime Minister Narendra Modi announced 20 per cent ethanol blending in petrol by 2025.
The ambitious target, which brings forward the blending target from 2030 to 2025, is a key element of the economy-wide energy transformation.
As of September 2021, the country has already reached 8.5 per cent ethanol blending, and is on track to achieve the 20 per cent target by 2025.

CURRENT AFFAIRS: BUSINESS NEWS

Assets under management for ESG funds up 2.5 times in FY21: Nasscom

Assets under management for environmental, social and governance (ESG) funds increased 2.5 times to USD 650 million in India in financial year 2021 on an annual basis, a top official of IT industry body Nasscom
Nasscom President Debjani Ghosh, during the launch of ‘Enterprise Innovation Challenge’, there has been a sharp increase in conversations around ESG.
Companies are not just becoming alert to ESG performance of vendors or partners that they are willing to work with, but investors also are using ESG as metrics to drive investments.
In India alone, the assets under management for ESG funds rose by 2.5 times in just a year.
From 275 million USD in Fiscal Year 20, the assets under management for ESG funds went up to 650 million USD in Fiscal Year 21

Govt converts G-Secs and Oil Bonds aggregating ₹1.20 lakh crore to mature at a later date:

The Government of India did a conversion transaction for Government Securities (G-Secs) and Oil bonds with the Reserve Bank of India (RBI) on January 28, 2022 for an amount of ₹1,19,701 crore (Face Value).
The transaction involved buying back securities maturing in FY 2022-23, FY 2023-24 and FY 2024-25 from the Reserve Bank and issuing fresh securities for equivalent market value, to make the transaction cash neutral.
This is probably one of the biggest conversion transactions in recent times.
Conversion of G-Secs maturing in the current year and the next into new G-Secs maturing at a later date help reduce the redemption pressure on the Government.

India requires 2nd green revolution:

The RBI has stressed the need for another green revolution in the nation in its latest bulletin.
Beset with serious challenges like over production of crops like rice and wheat, depletion of soil health and volatility in food prices, the country would require a second green revolution focussed on the agriculture-water-energy nexus to make agriculture more climate resistant and environmentally sustainable
The use of biotechnology and breeding will be important in developing eco-friendly, disease-resistant, climate-resilient, more nutritious and diversified crop varieties
Public and private sector investment can play a critical role to build up the agricultural infrastructure required for efficient post-harvest practices.

CURRENT AFFAIRS: BANKING AND ECONOMY

RBI imposes restrictions on Indian Mercantile Cooperative Bank Ltd:

The Reserve Bank, it has imposed several restrictions on Indian Mercantile Cooperative Bank Ltd, Lucknow, including a cap of Rs 1 lakh on withdrawals.
The restrictions came into force from closure of business hours on January 28, 2022.
RBI the Lucknow-based co-operative bank will not, without its prior approval, grant or renew any loans and advances, or make any investment.
The central bank, however, added the directions should not per se be construed as a cancellation of the banking licence by the RBI.
The bank will continue to undertake banking business with restrictions till further notification from RBI.
The Reserve Bank may consider modifications of these Directions depending upon circumstance prior approval, grant or renew any loans and advances, or make any investment.
The restrictions would remain in force for six months and are subject to review.

Tata Group choose SBI, Bank of Baroda and HDFC Bank as preferred bankers for Air India:

Tata Group has chosen State Bank of India, Bank of Baroda and HDFC Bank as preferred bankers for Air India.
Recently Tata Group has taken over Air India from the government.
Air India is the largest international carrier out of India with an 18.6% market share.
Tata Sons have availed of a Rs 10,000-crore loan from SBI and a Rs 5,000-crore loan from BoB.
The loan from HDFC Bank is not known yet.
The loans are unrated, unsecured, and pegged at 4.25% [interest rate] annually.
The new debt leveraged by the Tata Group will be used to refinance Air Indias debt leveraged by more than 10%.
It is not known if Tatas has already obtained a loan from HDFC Bank.
Tata Group, SBI, BoB and HDFC Bank did not respond to ETs inquiry.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Pune-based ADVIK Hi-Tech in pact with Aussie firm for H2 components:

ADVIK Hi-Tech Pvt Ltd has entered into a joint venture agreement with H2X Global Limited for the production of critical components for hydrogen vehicles and hydrogen-powered products.
Launching immediately, H2X and ADVIK will begin production of H2Xs series of fuel cell powered generators.
H2X currently has several of these units in deployment in Australia.
The first generators manufactured by the joint venture will be put into service with a large-scale power system providing emission-free power for ADVIKs state-of-the-art research and development centre located in Pune, India.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Government extends tenure of LIC Chairman M R Kumar by one year till March 2023

The Center has extended the tenure of Life Insurance Corporation of Indias Chairperson M.R. Kumar by one year, till March 2023.
He took charge as Chairman of LIC on March 14, 2019.
This is the second extension given to Mr. Kumar.
Before this, he was given a nine-month extension on June 30, 2021, till March 13, 2022.
The government is looking to list LIC during the current financial year in line with the Budget announcement

About LIC :

Chairperson: M R Kumar
Managing Director : Mukesh Gupta, Smt. Ipe Mini, Siddharth Mohanty, Rajkumar
Headquarters: Mumbai, Maharashtra
Founded: 1 September 1956
Capital of LIC to Rs 25,000 crore
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 : BOOKS & AUTHORS

Dr. Kiran Bedi’s Book Fearless Governance

A New Book Titled Fearless Governance authored by Dr Kiran Bedi.
The book was launched by Indra Nooyi (former chairperson & CEO of PepsiCo) and Prof Debashis Chatterjee (director, IIM Kozhikode).
The Book is Published by Diamond Books, the title will be translated in all major Indian languages.

About the Book :

The book captures Bedi’s fearless moments, administrative acumen and innovative initiatives in Puducherry.
It is Based on the ground-realities of nearly five years of service.

About Dr. Kiran Bedi :

Kiran Bedi is social activist and tennis player, who was the 24th Lieutenant Governor of Puducherry from 28 May 2016 to 16 February 2021.
She is the first Indian female to become an officer in the Indian Police Service and started her service in 1972.
In 2003, Bedi became the first Indian and first woman to be appointed as head of the United Nations Police and Police Advisor in the United Nations Department of Peace Operations.

Awards & Honors :

In 1979 she received the President’s Police Medal for Gallantry for Conspicuous courage in preventing violence during Akali-Nirankari clashes.
In 2004 she was honored with the United Nations Medal for her Outstanding service.
In 2005 she was honored with the Mother Teresa Memorial National Award for Social Justice for her Reforms in prison and penal systems by All India Christian Council.

CURRENT AFFAIRS : SPORTS NEWS

Odisha Open Badminton 2022 : Kiran George, Unnati Hooda emerge champions

Unnati Hooda defeated fellow Indian badminton player Smit Toshniwal, 21-18, 21-11, in the women’s singles final match at the Odisha Open 2022 in
She became the youngest winner of the women’s singles title in the $75,000 Odisha Open badminton tournament.
The 21-year-old Kiran prevailed over Priyanshu Rajawat 21-15, 14-21, 21-18 to clinch the men’s single title after battling hard for 58 minutes.

List of Winners in Odisha Open Badminton 2022 :

Men singles: Kiran George beat Priyanshu Rajawat 21-15, 14-21, 21-18
Mens Doubles: Nur Mohammad Azriyn Ayub Azriyn & Lim Khim Wah (Mas) bt P. S. Ravikrishna & S. Udayakumar 18-21, 21-14, 21-16.
Women singles: Unnati Hooda bt Smit Toshniwal 21-18, 21-11
Womens Doubles: Treesa Jolly & P. Gayatri bt Sanyogita Ghorpade & Shruti Mishra 21-12, 21-10.
Mixed doubles: Sachin Dias & Thilini Hendahewa (Sri) bt M. R. Arjun & Treesa Jolly 21-16, 22-20.

About Odisha Open Badminton 2022 :

The 2022 Odisha Open was a BWF Super 100 tournament that took place at the Jawaharlal Nehru Indoor Stadium, Cuttack, Odisha, India from 25 to 30 January 2022.
It had a total prize pool of US$75,000.
The 2022 Odisha Open was the third tournament of the 2022 BWF World Tour and was the first edition of the Odisha Open.
The tournament was organized by the Badminton Association of India with sanction from the Badminton World Federation.

Argentina beat Chile 4-2 in Pan Am Women Cup final

In the 2022 Women’s Pan American Cup, Argentina defeated Chile, 4-2 to clinch their sixth straight Women’s Pan American Cup title.
With this, both Argentina and Chile have sealed automatic qualification spots at the FIH Hockey Women’s World Cup, Spain and Netherlands 2022.

About 2022 Women’s Pan American Cup :

The 2022 Women’s Pan American Cup was the sixth edition of the Women’s Pan American Cup, the quadrennial international women’s field hockey championship of the Americas organized by the Pan American Hockey Federation.
It was held from January 19 to 29, 2022 in Santiago, Chile.

About Pan American Hockey Federation :

The Pan American Hockey Federation is the field and Indoor hockey federation for the Americas.
It consists of 30 Members. It is associated with the International Hockey Federation and hosts several continental competitions for national teams.

Australian Open 2022: Rafael Nadal beats Daniil Medvedev to win record 21st Grand Slam title

In Australian Open 2022 Rafael Nadal (Spain) defeated Daniill Medvedev (Russia) 2-6,6-7,6-4,6-4,7-5 to win the Men’s Single title.
This is also his 21st Major title, becoming the first man to do so.
It was the second-longest Australian Open final after Novak Djokovic beat Nadal in five sets in 5 hours and 53 minutes in 2012.
Before the match, Nadal was tied with Roger Federer and Novak Djokovic on the all-time titles list in men’s singles.

Complete list of winners in Australian Open Tennis Title 2022:

2022 Event	Winners	Runner -up
Men’s Singles	Rafael Nadal	Daniil Medvedev
Women’s Singles	Ashleigh Barty	Danielle Collins
Men’s Doubles	Thanasi Kokkinakis and Nick Kyrgios	Matthew Ebden and Max Purcell
Women’s Doubles	Barbora Krejčíková and Kateřina Siniaková	Anna Danilina and Beatriz Haddad Maia
Mixed Doubles	Kristina Mladenovic and Ivan Dodig	Jaimee Fourlis and Jason Kubler
Wheelchair men’s singles	Shingo Kunieda	Alfie Hewett
Wheelchair women’s singles	Diede de Groot	Aniek van Koot
Wheelchair quad singles	Sam Schröder	Dylan Alcott
Wheelchair men’s doubles	Alfie Hewett and Gordon Reid	Gustavo Fernández and Shingo Kunieda
Wheelchair women’s doubles	Diede de Groot and Aniek van Koot	Yui Kamiji and Lucy Shuker
Wheelchair quad doubles	Andy Lapthorne and David Wagner	Sam Schröder and Niels Vink
Boys’ singles	Bruno Kuzuhara	Jakub Menšík
Girls’ singles	Petra Marčinko	Sofia Costoulas

About Rafael Nadal :

Rafael Nadal Parera is a Spanish professional tennis player.
He is ranked world 5 by the Association of Tennis Professionals (ATP), and has been ranked No. 1 in the ATP rankings.
Nadal has won 21 Grand Slam men’s singles titles, the most in history.
Nadal has won 62 of his 90 ATP Singles titles on clay, including a record 13 French Open titles and 26 of his 36 Masters titles.
His 81 consecutive wins on clay is the longest single-surface win streak in the Open Era.
Nadal’s dominance on Clay is reflected by his honorific title as the “King of Clay” and he is widely regarded as the greatest Clay-court player in history.

About 2022 Australian Open :

The 2022 Australian Open was a Grand Slam tennis tournament that took place at Melbourne Park, Australia from 17 to 30 January 2022.
It was the 110th edition of the Australian Open, the 54th in the Open Era, and the first Grand Slam of the year.

CURRENT AFFAIRS : OBITUARIES

Renowned social worker and Padma Shri awardee Baba Iqbal Singh passes away

Renowned social worker and Padma Shri awardee Baba Iqbal Singh, in-charge of Kalgidhar Trust Passed away at the age of 95.

About Baba Iqbal Singh :

Baba Iqbal Singh born on 1 May 1926, Bharyal Lehri, Punjab, British Raj.
He studied at the University of Agriculture in Faisalabad, Pakistan and graduated in 1949 & Later, he earned a Master’s degree in agriculture science.
He started his career as a civil servant in Himachal Pradesh’s department of agriculture.
After retiring from the service as director 1986, he moved to Baru Sahib in Himachal Pradesh’s Sirmaur district and started Akal Academy.
Eventually, Baba Iqbal Singh established 129 low-cost schools and two private universities in Himachal Pradesh, Punjab, Haryana,Uttar Pradesh and Rajasthan.
He was an Indian socio-spiritual leader of the Sikh community.
He was the Founder President of The Kalgidhar Trust, The Kalgidhar Society and Baru Sahib.
He established Eternal University in 2008 and Akal University, Guru ki Kashi in 2015.