Daily Current Affairs: February 03, 2022

Daily Current Affairs (February 03, 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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Important Days

Rheumatoid Arthritis Awareness Day – 2 February

• Rheumatoid Arthritis Awareness Day is observed on 2 February to raise awareness about patients with rheumatoid arthritis.
• Rheumatoid arthritis (RA), is an autoimmune disease in which the body misinterprets the linings of the joints as foreign tissue, attacking and damaging them, causing inflammation and discomfort.
• The Rheumatoid Patient Foundation (RPF) was established on 2 February in 2013 to help raise awareness for all the people who live with pain and misunderstanding about this chronic condition (Rhuematoid arthritis) on a daily basis.

World Interfaith Harmony Week – 1 February to 7 February

• World Interfaith Harmony Week is observed from 1 February to 7 February every year to promote unity among people of various faiths.
• This week was first launched in 2011.
• The theme for World Interfaith Harmony Week 2022 is ‘Faith and spiritual leadership to combat stigma and conflict during pandemic recovery’.

National News

Union Government sets up a National Land Monetisation Corporation to expedite the monetisation of land and non-core assets of public sector entities

• Union Government has set up a National Land Monetisation Corporation with an initial authorised share capital of ₹ 5000 crores and subscribed share capital of ₹ 150 crores to carry out the monetisation of the land and other non-core assets.
• The National Land Monetisation Corporation (NLMC) is being incorporated as a 100 per cent owned entity of the Government of India.
• Union Government’s main assets have a total monetisation potential of ₹ 6 lakh crores over four years from 2021–22 to 2024–25.
• The leading five sectors include railways, roads, power, oil and gas pipelines and telecom and these estimate for approximately 83 per cent of the total value.

State News

Chhattisgarh becomes the 35^th state/UT to implement the One Nation One Ration Card scheme

• Chhattisgarh became the thirty-fifth state/ union territory to implement the One Nation One Ration Card (ONORC) scheme under the National Food Security Act enabling the people of the state to lift their foodgrains quota entitled under the food law from any ration shops across India.
• The ONORC scheme for nation-wide portability of the National Food Security Act (NFSA) ration cards has been enabled in Chhattisgarh from 2 February 2022.
• ONORC is a technology-driven distribution method that makes food security portable across India. By utilising their identical ration cards, people can obtain their entitled quota of foodgrains from any fair price shop of their choice anywhere in India.

Chhattisgarh    

• Capital: Raipur
• Chief Minister: Bhupesh Baghel
• Governor: Sushri Anusuiya Uikey

Banking & Economy

Reserve Bank of India is set to unveil digital rupee using blockchain in FY23

• The digital rupee using blockchain and other technologies will be issued by the Reserve Bank of India (RBI) in FY23 (2022–23).
• The introduction of a Central Bank Digital Currency (CBDC) will provide the Indian digital economy with a significant boost. In addition, digital currency by RBI will result in a more efficient and cost-effective currency management system.
• The RBI has been working on a phased implementation of CBDC after carefully considering its impact on a variety of concerns, including how it could impede banks’ deposit mobilisation capabilities and its possible impact on monetary policy conduct.
• A CBDC is a digital form of legal money to be issued by the RBI. It functions in the same way as fiat money and can be exchanged for fiat money in a one-to-one ratio. Its only difference is in its appearance. However, it is not comparable to the private virtual currencies such as Bitcoin or Ethereum that have mushroomed over the last decade.

Reserve Bank of India (RBI)

• Headquarters: Mumbai, Maharashtra
• Formation: 1 April 1935
• Governor: Shaktikanta Das
• Deputy Governors: K. Jain, M. D. Patra, M. Rajeshwar Rao and T. Rabi Sankar
• Subsidiaries: Deposit Insurance and Credit Guarantee Corporation (DICGC), Bharatiya Reserve Bank Note Mudran Limited (BRBNML)

Export-Import Bank of India extends a $500 million loan agreement with Sri Lanka for petroleum products purchase

• The Export-Import Bank of India (EXIM) and the Government of Sri Lanka have agreed to a $ 500 million Short-Term Line of Credit (STLOC) agreement for the purchase of petroleum products.
• On 13 January 2022, India offered Sri Lanka a currency swap worth $ 400 million, while also deferring another $ 500 million to the Asian Clearing Union (ACU) settlement to help Sri Lanka with its dollar shortfall.

Exim Bank (Export and Import Bank of India)

• Headquarters: Mumbai
• Managing Director: Harsha Bhupendra Bangari

Edelweiss General Insurance launches an AI voice bot for automated motor claim registrations

• Edelweiss General Insurance (EGI) has launched an artificial intelligence (AI) voice bot to help clients communicate insurance motor claim registrations in a convenient and smooth manner.
• This end-to-end AI voice bot is the first of its kind in India’s general insurance industry and is powered by Yellow.ai, the world’s leading next-generation Total Experience (TX) Automation Platform, which was recently named to Gartner’s Magic Quadrant for Enterprise Conversational AI Platforms for 2022.
• This AI voice bot is available in Hindi, English and Hinglish and it will enable real-time registration of claims 24×7.
• This bot will aid EGI’s garage agents in registering claims in a more efficient, timely and hassle-free manner.

GDP Predictions

CRISIL predicts India’s GDP growth rate at 7.8 per cent for FY23

• CRISIL has predicted India’s GDP growth rate at 8 per cent for FY23 (2022–23) from 9.2 per cent in FY22.
• CRISIL expects the nominal growth to come at 12 per cent to 13 per cent, higher than the 11.1 per cent Budget Estimate and the headline inflation to average 2%.

CRISIL:

• Headquarters: Mumbai, Maharashtra
• MD and CEO: Amish Mehta

National Statistical Office lowers India’s economy by 6.6 per cent in FY21

• National Statistical Office (NSO) lowered India’s economy by 6 per cent for FY21 (2020–21) against a contraction of 7.3 per cent that was shown in provisional estimates due to the outbreak of the COVID-19 pandemic and the subsequent national lockdown, which was imposed to contain the infection.
• It has also revised downward the real gross domestic product (GDP) growth number for 2019–20 to 3.7 per cent as against the earlier estimate of 4 per cent.

Ranks & Indices

Life Insurance Corporation of India is the tenth most valued insurance brand globally: Brand Finance

• According to a brand valuation analysis, Life Insurance Corporation (LIC) is India’s strongest and largest brand with a worth of $ 8.656 billion (about ₹ 64,722 crores), making it the third-strongest insurance brand globally.
• LIC ranks third in brand strength globally after Poste Italiane of Italy and Mapfre of Spain and is also the tenth most valued insurance brand
• LIC became the only domestic insurer to rank in the top 10 list strongest brands and top 10 most valuable insurance brands.
• LIC’s brand value climbed in overall global brand rankings by 32 places to become the world’s 206^th most valuable brand in 2021, from 238^th slot in 2020.

Life Insurance Corporation of India (LIC)

• Headquarters: Mumbai, Maharashtra
• Founded: 1 September 1956
• Chairman: R. Kumar
• Managing Director: Mini Ipe

Appointments

Lieutenant General Manoj Pande takes over as Indian Army’s Vice Chief

• Lieutenant General Manoj Pande took over as the Indian Army’s Vice-Chief after the retirement of Lieutenant General Chandi Prasad Mohanty.
• He has over 39 years of distinguished military career as he was commissioned in December 1982 to the Corps of Engineers (The Bombay Sappers).
• He has been conferred with the Param Vishisht Seva Medal, Ati Vishisht Seva Medal, Vishisht Seva Medal, the Chief of Army Staff Commendation and GOC-in-C Commendation twice.

National Institute of Electronics & Information Technology appoints Dr. Madan Mohan Tripathi as its Director-General

• Madan Mohan Tripathi was appointed as the Director-General of the National Institute of Electronics & Information Technology (NIELIT) under the Union Ministry of Electronics & Information Technology (MeitY).
• Prior to this, he was working as a Professor with Delhi Technological University (DTU), New Delhi.
• He also worked as the Director of the Internal Quality Assurance Cell (IQAC) and the Coordinator of the Intellectual Property Rights Cell.

Books & Authors

India’s first-ever season style book ‘The Class of 2006: Sneak Peek into the Misadventures of the Great Indian Engineering Life’ released

• India’s first-ever season style book ‘The Class of 2006: Sneak Peek into the Misadventures of the Great Indian Engineering LIFE’ authored by Akash Kansal was released by Indian film actor, writer, director and producer Madhavan.
• This book was released on Amazon Kindle edition.

Obituary

Veteran actor Ramesh Deo passed away at 93

• Veteran Hindi and Marathi actor and producer Ramesh Deo passed away at the age of 93.
• He featured in more than 250 Hindi films and nearly 200 Marathi movies in his career spanning 60 years. He is known for films such as Anand and Aap Ki Kasam in Hindi cinema and his extensive work in the Marathi film industry.
• He made his debut in a cameo appearance in the Marathi film Paatlaachi Por in 1951.
• He was also a TV veteran, having featured in over 30 Marathi dramas.

Daily CA- 3 February One-Liners

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