Daily Current Affairs: February 17, 2022

Daily Current Affairs (February 17, 2022) like many other sections is inevitable and this also helps to score in the Banking awareness, Static GK, and Financial Awareness sections. Remember, Banking Awareness, and Static Awareness Questions are asked from the General Awareness section. This will also help you to ride your preparations for the forthcoming exams.

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National News

Union Ministry of New and Renewable Energy organises ‘New Frontiers’ programme on renewable energy

• Union Ministry of New and Renewable Energy (MNRE)’s ‘New Frontiers: A Programme on Renewable Energy’ to celebrate the Azadi Ka Amrit Mahotsav commenced with the inaugural event named ‘India’s Leadership in Energy Transition’ at Vigyan Bhawan, New Delhi.
• In the past seven years, India has increased its installed capacity of 3,95,000 MW, whereas India’s peak demand is 2,00,000 MW. India now has an integrated national grid.

Asia’s largest tribal fair ‘Medaram Jatara’ begins in Telangana

• Telangana’s Medaram Jatara, considered to be Asia’s largest tribal fair celebrated over four days every two years, began at Medaram village of the Mulugu district, Telangana.
• Over 1.25-crore people are expected to congregate at the village to celebrate the valour of Adivasi icons Sammakka and Sarakka.

Telangana               

• Capital: Hyderabad
• Chief Minister: K. Chandrashekar Rao
• Governor: Tamilisai Soundararajan
• National Parks: KasuBrahmananda Reddy National Park, Mahaveer Harina National Park, Mrugavani National Park

International News

India, Australia and Singapore join hands to address marine pollution caused by plastic debris

• India, in partnership with Australia and Singapore, is set to conduct an international workshop on combating marine pollution, focusing on marine plastic debris.
• This virtual workshop is aimed to discuss research interventions toward monitoring and assessing marine litter and plausible sustainable solutions to address the global marine plastic pollution

Australia

• Capital: Canberra
• Currency: Australian Dollar
• Prime Minister: Scott Morrison
• Deputy Prime Minister: Barnaby Joyce

Singapore

• Capital: Singapore City
• Currency: Singapore Dollar
• President: Halimah Yacob
• Prime Minister: Lee Hsien Loong
• Deputy Prime Minister: Heng Swee Keat

Union Cabinet approves the setting up of a G20 Secretariat to be headed by Prime Minister Narendra Modi

• The Union Cabinet chaired by Prime Minister Narendra Modi approved the setting up of a G20 Secretariat and its reporting structures, which will be responsible for the implementation of overall policy decisions and arrangements needed for steering India’s forthcoming presidency of G20.
• India will hold the presidency of the G20 from 01 December 2022 to 30 November 2023, culminating with the G20 Summit in India in 2023.

World Health Organization launches ‘Quit Tobacco’ application to help people to give up the use of tobacco

• The World Health Organization (WHO) has launched the ‘Quit Tobacco’ application to help people through the cigarette and give up tobacco in all forms, including smokeless and other newer products.
• This application is the first such by WHO and the first that targets all forms of tobacco, helps users identify the triggers, set their targets, manage cravings and stay focused to quit tobacco.

World Health Organisation (WHO)

• Headquarters: Geneva, Switzerland
• Head: Tedros Adhanom Ghebreyesus
• Chief Scientist: Soumya Swaminathan
• Founded: 7 April 1948

India is set to showcase its agriculture and food processing prowess at the ‘EXPO 2020’ Dubai

• India will pitch to become the preferred sourcing partner for the global food processing industry during the fortnight at the EXPO 2020 It will also host various seminars and conferences to deliberate on ways to explore international collaborations and further strengthen its export potential.
• India will exhibit investment opportunities in millets, organic farming, horticulture and dairy to investors worldwide. Millets Food Festival will also be held as part of this

India and Australia sign a Letter of Intent on new and renewable energy technology

• India and Australia signed a letter of intent (LoI) for working towards bringing down the cost of renewable energy RE technologies. Both the countries will also focus on scaling up the manufacturing of low-cost solar and clean hydrogen.
• This LoI was signed during the fourth India–Australia Energy Dialogue. The dialogue was co-chaired by Union Minister for Power and New & Renewable Energy, K. Singh along with the Australian Minister for Energy and Emissions Reduction, Angus Taylor.

Australia

• Capital: Canberra
• Currency: Australian Dollar
• Prime Minister: Scott Morrison
• Deputy Prime Minister: Barnaby Joyce

India and Germany sign a work plan for collaboration to strengthen quality infrastructure

• India and Germany have signed a work plan for cooperation to strengthen quality infrastructure, reduce technical trade barriers, enhance product safety and strengthen consumer protection.
• The Work Plan 2022 was signed during the virtual event held on the eighth annual meeting of the Indo–German Working Group on Quality Infrastructure, led by the Union Ministry for Consumer Affairs, Food and Public Distribution and the German Federal Ministry for Economic Affairs and Energy.

Germany

• Capital: Berlin
• Currency: Euro
• President: Frank-Walter Steinmeier
• Chancellor: Olaf Scholz

Banking and Economy

JP Morgan becomes the first bank to enter the metaverse

• US-based bank JP Morgan has ventured into metaverse with the opening of a lounge in the blockchain-technology-based virtual world ‘Decentraland’. JP Morgan became the first bank to launch itself in the metaverse.
• The bank has named the lounge ‘Onyx’, which is the bank’s suite of permissioned Ethereum-based services.

RBI allows NBFCs time till 30 September 2022 to comply with new NPA norms

• The Reserve Bank of India (RBI) has extended the deadline for non-banking financial companies (NBFCs) till 30 September 2022 to comply with new asset classification norms issued. Non-bank lenders will now be allowed to move to the new rules for recognising bad loans.
• The RBI norms stipulate that loan accounts classified as Non-performing Assets (NPA) may be upgraded as ‘standard’ assets only if entire arrears of interest and principal are paid by the borrower.

Agreements and MoUs signed

Karur Vysya Bank ties up with Unanu Technologies for digital freight finance to fund transport contractors

• Karur Vysya Bank (KVB) has joined hands with Chennai-based Unanu Technologies for digital freight finance to fund transport contractors by using the end-to-end logistics technology platform ‘U-Turbo’.
• The ‘U-Turbo’ platform has visibility right from the time of material pick-up until it reaches the destination. It has built the Freight Financing System within its suite of software platforms.

NSDC collaborates with CSC for the delivery of services to accelerate skill development

• The National Skill Development Corporation (NSDC) and Common Service Centres (CSC) have collaborated for the delivery of services related to various skill development programmes to the youth in rural and remote areas of India.
• Under this partnership, the CSCs at the village level will act as a skill desk, creating awareness about the various available skill development programmes.

National Skill Development Corporation (NSDC)

• Headquarters: New Delhi
• CEO: Manish Kumar

Acquisitions and Mergers

Jio Platforms is set to invest $ 200 million in Glance

• Reliance Industries announced that Jio Platforms had invested $ 200 million in Glance, an AI-driven lock-screen platform. The transaction is subject to the satisfaction of customary closing conditions and regulatory approvals.
• Jio Platforms (Jio), a subsidiary of Reliance Industries, has built a world-class all-IP data strong future proof network with the latest 4G LTE technology.

Appointments

Former Navy Vice-Chief Ashok Kumar takes charge as the first National Maritime Security Coordinator

• Former Navy Vice-Chief Ashok Kumar was appointed as the first National Maritime Security Coordinator (NMSC) in the National Security Council Secretariat.
• He served as the Navigating Officer of Indian Navy ships, including Beas, Nilgiri, Ranvir and Vikrant. He was commissioned into the executive branch of the Indian Navy on 01 July 1982.

DFS Secretary Sanjay Malhotra was appointed as the Director on the Central Board of the RBI

• Union Government has appointed the Department of Financial Services (DFS) Secretary Sanjay Malhotra as a Director on the Central Board of the Reserve Bank of India (RBI).
• He is a 1990 batch IAS officer of the Rajasthan cadre. He also worked as the Chairman and Managing Director of REC Limited.

Awards and Recognitions

Karnataka Bank was honoured with three IBA’s banking technology awards

• Karnataka Bank has bagged three awards at the seventith Annual Banking Technology Conference and Awards: 2020–21 Next-Gen Banking, instituted by the Indian Banks’ Association (IBA).
• The bank won the awards under the categories including the Best Technology Bank of the Year, Best Fintech Adoption and Best Use of AI/ML and Data Analytics — all runner-ups.

Karnataka bank

• Headquarters: Mangalore, Karnataka
• CEO: S. Mahabaleshwara
• Tagline: Your Family Bank Across India

Obituary

Kannada poet Chennaveera Kanavi passed away at 94

• Eminent Kannada poet Chennaveera Kanavi passed away at the age of 94 due to age-related complications. He penned more than 15 books. He was awarded the Sahitya Akademi Award for his book ‘Jeevadhwani’.
• His book Kaanavi received the Rajyotsava Award, Pampa Award, Nadoja title, Nrupathunga Award, Sahitya Bangara Award and several other honours.

Daily CA 17 February Oneliner:

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