Daily Current Affairs: January 29, 2022

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National News

Union Textile Ministry extends the timeline for submitting PLI scheme applications to 14 February 2022

• Union Ministry of Textiles extended the timeline for the submission of Production Linked Investment (PLI) scheme applications to 14 February 2022 from 31 January 2022.
• PLI scheme aims to increase the production of man-made fibre (MMF) and technical textiles in India, which together account for almost two-thirds of international trade in textiles.
• The PLI textiles scheme has a financial allocation of ₹10,683 crores covers 40 MMF (man-made fibre) garments, 14 MMF fabric products and 10 technical textile items.
• This scheme is operational from 24 September 2021 to 31 March 2030.

State News

Tamil Nadu Government plans to erect a statue of Colonel John Pennycuick in the United Kingdom

• Tamil Nadu Government has planned to erect a statue of British army engineer Colonel John Pennycuick at his birth place in Camberley, the United Kingdom.
• He was as a British engineer who built the Mullaperiyar Dam in 1895 in Kerala’s Idukki, which provides water to Theni, Dindigul, Ramanathapuram, Sivagangai and Madurai districts of Tamil Nadu.
• Mullaiperiyar Dam is currently operated by the Tamil Nadu Government.

Tamil Nadu                      

• Capital: Chennai
• Chief Minister: M. K. Stalin
• Governor: R. N. Ravi
• National Parks: Mukurthi National Park, Guindy National Park, Gulf of Mannar Marine National Park, Indira Gandhi (Annamalai) National Park, Mudumalai National Park

India’s largest electric vehicle charging station was commissioned at Gurugram

• India’s largest electric vehicle (EV) charging station, comprising 72 AC slow chargers and 24 DC fast chargers, has been commissioned at Gurugram, Haryana.
• This charging station, equipped with 100 charging points for four-wheelers, was commissioned in Sector 52 of Gurugram.
• This project is aimed at demonstrating the competitive advantage of owning a charging station business over petrol pumps in terms of ease in getting the necessary licensing, designing, commissioning, installation, electrification and safety certifications.
• Prior to this, India’s largest EV charging station was located in Navi Mumbai that houses 16 AC and four DC chargers.

International News

The Netherlands unveils the world’s largest sea canal lock

• Netherlands’ King Willem-Alexander opened the Ijmuiden Sea Lock, which is claimed to be the largest sea canal lock in the world.
• This 500-metre long and 70-metre wide sluice replaces a smaller, nearly 100-year-old one at Ijmuiden, a small port city connecting the North Sea canal to the port of Amsterdam.
• The Ijmuiden lock was designed to allow large, modern cargo ships to reach the port of Amsterdam.
• This new sea lock will greatly improve the accessibility of the port of Amsterdam and stimulate this region’s economy by providing tide-independent space for the increasingly large seafaring vessels.

Banking & Economy

State Bank of India receives approval from the RBI to set up National Asset Reconstruction Company and India Debt Resolution Company

• State Bank of India (SBI) has received approvals for setting up the National Asset Reconstruction Company (NARCL) and India Debt Resolution Company (IDRCL) from the Reserve Bank of India (RBI).
• The approval for NARCL was granted under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act,
• As per the operational structure, NARCL will acquire and aggregate identified non-performing assests (NPA) accounts from banks, while IDRCL will handle the debt resolution process.

Paytm Money launches a messenger named ‘Pops’ to invest and track markets

• The updates through Pops will be delivered in real-time and in an engaging manner to make it easy for users to leverage the information.
• This messenger platform will also serve as a marketplace to offer stock recommendations, news insights and other services.

City Union Bank ties up with GOQii to launch the fitness watch debit card

• City Union Bank has tied up with smart-tech-enabled preventive healthcare platform GOQii launched a payment solution called CUB fitness watch debit card powered by the National Payments Corporation of India (NPCI).
• Customers must hold this wristwatch in front of the Point of Sale (PoS) devices during payment, similar to how they would tap their card on a PoS device.
• Customers must tap and input their Personal Identification Number (PIN) for payments over ₹5000. This smartwatch debit card costs ₹3499 for the first year, compared to the annual cost of ₹6499.
• This fitness watch enables the wearer to monitor their oxygen level (Sp0₂), body temperature, heart rate, blood pressure and 18 exercise modes.

City Union Bank

• Headquarters: Kumbakonam, Tamil Nadu
• CEO: Kamakoti

TerraPay partners with NPCI International Payments Limited to enable real-time and international payments

• The international payments arm of the National Payments Corporation of India (NPCI), NPCI International Payments Limited (NIPL), has partnered with Netherlands-based global payments infrastructure company TerraPay, which will allow Indian people with an active Unified Payments Interface (UPI) ID to receive real-time international payments into their bank accounts through TerraPay’s secure payments technology.
• NIPL’s partnership with TerraPay is aimed at enabling a seamless and convenient cross-border remittances experience powered by the UPI platform’s best-in-class real-time capabilities.

State Bank of India raises $300 million Formosa bonds on India International Exchange Limited

• State Bank of India is the first Indian entity to raise $300 million Formosa bonds on India International Exchange Limited (India INX).
• This issuance of Formosa bonds is a testimony of the confidence reposed by the overseas investors in India’s growth story.
• A Formosa bond is a bond that is issued in Taiwan but is not denominated in the New Taiwan Dollar. They are issued by Taiwan branches of publicly traded international financial institutions and must have a credit rating of BBB or better in order to be traded.
• This issuance is a step forward in the globalisation of the world, as it allows a bank to raise funds for markets that have been underserved for numerous years.
• SBI had dual-listed $650 million green bonds on India INX and Luxembourg Stock Exchange in November 2021.

Appointments

Xiomara Castro was sworn in as the first female President of Honduras

• Xiomara Castro was sworn in as the first female President of Honduras.
• She is the 56^th President of Honduras
• She replaced Juan Orlando Hernandez.
• Her husband Manuel Zelaya ruled Honduras from 2006 until 2009.
• Honduras is a Central American country with the Caribbean Sea coastlines to the north and the Pacific Ocean to the south.

Republic of Honduras

• Capital: Tegucigalpa
• Currency: Honduran Lempira

Union Government appoints V. Anantha Nageswaran as the Chief Economic Advisor

• Anantha Nageswaran was appointed as the Chief Economic Advisor (CEA) of the Indian Government.
• He succeeded Krishnamurthy Subramanian, who had retired in December 2021.
• He was a visiting Professor of Economics at the Krea University and the Dean of the IFMR Graduate School of Business. He was also a part-time member of the Prime Minister’s Economic Advisory Council from 2019 to 2021.

Pushp Kumar Joshi was appointed as the Chairman and Managing Director of Hindustan Petroleum Corporation Ltd

• Pushp Kumar Joshi was appointed as the new Chairman and Managing Director (CMD) of Hindustan Petroleum Corporation Limited (HPCL).
• He will replace Mukesh Kumar Surana.
• He is currently serving as the Director of Human Resources at HPCL since 1 August 2012.

Sports News

Kristina Mladenovic and Ivan Dodig wins the Australian Open Mixed Doubles Championship 2022

• Kristina Mladenovic of France and Ivan Dodig of Croatia won the Australian Open Mixed Doubles Championship 2022 title at Melbourne Park, Australia.
• They were crowned the mixed doubles title after defeating Jaimee Fourlis and Jason Kubler.
• Kristina Mladenovic became the Australian Open mixed doubles champion for the second time in her career, having won the tournament in 2014 and has won two women’s doubles titles in 2018 and 2020 in the Australia Open among her five major women’s doubles titles.

Former Zimbabwe captain Brendan Taylor gets three-and-a-half year ban by the ICC

• The International Cricket Council’s (ICC) anti-corruption unit has banned former Zimbabwe cricket captain Brendan Taylor from all forms of cricket for three-and-a-half years for failing to report an approach from alleged corruptors promptly.
• He admitted to one charge of breaking the doping rule, which stems from a failed dope test in his last international game in 2021.
• He tested positive for Benzoylecognine, which is primarily a result of cocaine ingestion.

Books & Authors

Former Indian Finance Secretary Subhash Chandra Garg authors a new book titled ‘The $10 Trillion Dream’

• Former Finance Secretary of India Subhash Chandra Garg authored a new book titled ‘The $10 Trillion Dream’, which claims to explore the critical policy issues that India faces today and suggests reforms for it to become a $10 trillion economy by the mid-2030s.
• The publisher of this book is Penguin Random House India and is set to be released in February 2022.
• Subhash Chandra Garg was a member of the Indian Administrative Service (IAS) for over 36 years and has served in various key positions for both the Union Government and the Rajasthan Government. He was designated the Union Finance Secretary in March 2019.

Obituary

Renowned Marathi author Anil Awachat passed away

• Renowned Marathi author and social activist Anil Awachat passed away at the age of 78.
• He was the founder-director of the Muktangan Rehabilitation Centre in Pune and associated with several social causes.
• His popular books are Purnia, Manasa, Gard, Karyarat, Swatahavishayi, Karyarat, Karyamagna and Katuhalapoti.

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