Daily Current Affairs: February 10, 2022

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Important Days

National Deworming Day – 10 February

• National Deworming Day is observed on 10 February every year to protect newborn children against parasitic worm infections and to raise public awareness about it.
• This day was first organised by the Union Ministry of Health and Family Welfare in 2015.
• The National Deworming Campaign will be conducted from 10 February till 16 February.

World Pulses Day – 10 February

• World Pulses Day is observed on 10 February to raise awareness about the importance of pulses.
• This day has been observed since 2019 by the United Nations (UN).
• In 2013, the UN recognised the importance of the pulse crops and declared the year 2016 as the International Year of Pulses.
• The theme for World Pulses Day 2022 is ‘Pulses to empower youth in achieving sustainable agrifood systems’.

State News

Madhya Pradesh gets India’s first biomass-based hydrogen plant

• India’s first commercial-scale biomass-based hydrogen plant is set to come up in the Khandwa district of Madhya Pradesh.
• This plant will produce a tonne of hydrogen per day, from 30 tonnes of biomass feedstock and will also produce biochar and methane.
• Watomo Energies Limited and Biezel Green Energy have formed a joint venture to build this facility with a total investment of ₹ 24 crores.
• Biezel Green Energy is the technology partner for this project.

Madhya Pradesh      

• Capital: Bhopal
• Chief Minister: Shivraj Singh Chauhan
• Governor: Mangubhai Chhaganbhai Patel
• National Parks: Bandhavgarh National Park, Dinosaur Fossils National Park, Fossil National Park, Pench National Park, Kanha National Park, Kuno National Park, Madhav National Park, Panna National Park, Sanjay National Park, Satpura National Park, Van Vihar National Park 

Banking & Economy

Bombay Stock Exchange gets SEBI’s in-principal approval for trading in electronic gold receipts

• The Securities and Exchange Board of India (SEBI) has given its in-principle approval to the Bombay Stock Exchange to begin trading in electronic gold receipts (EGR), paving the way for the exchange to launch spot bullion exchange.
• Spot bullion will allow the general public, jewellers and anybody else interested in purchasing physical gold bars to purchase it on an exchange platform with the transparency of rate and purity, which is often a suspect in the over-the-counter retail outlets.
• SEBI has released a framework for operationalising the gold exchange, wherein the yellow metal (gold) will be traded in the form of EGRs in January 2022.
• This framework divides the transaction chain into three branches — the creation of EGRs, trading on EGRs on exchanges and conversion of EGRs to physical gold.

Bombay Stock Exchange (BSE)

• Headquarters: Mumbai, Maharashtra
• Chairman: Vikramajit Sen
• MD & CEO: Ashishkumar Chauhan

Securities and Exchange Board of India (SEBI)

The Securities and Exchange Board of India, which is owned by the Union Ministry of Finance, is the regulating authority for India’s securities and commodity markets. The SEBI Act of 1992 formed it on 12 April 1988 and gave it statutory powers on 30 January 1992.

• Headquarter: Mumbai, Maharashtra
• Chairman: Ajay Tyagi

Indian logistics firm Xpressbees becomes a unicorn with a $ 300 million funding

• Indian logistics firm Xpressbees became the eighth Indian firm to join the unicorn club in 2022 with $ 300 million funding.
• This firm has raised $ 300 million in a Series F round led by private equity funds Blackstone Growth, TPG Growth and Chrys Capital.
• The total amount of funds raised by Xpressbees crosses over $ 500 million.
• Xpressbees began as the logistics arm of Pune-based baby products retailer FirstCry about ten years ago.
• In September 2015, the company was spun out from FirstCry and began operating independently.

RBI increases the NACH mandate limit for TReDS settlement to ₹ 3 crores

• The Reserve Bank of India (RBI) has increased the National Automated Clearing House (NACH) mandate limit for Trade Receivables Discounting System (TReDS) settlements to ₹ 3 crores from ₹ 1 crore.
• TReDS is an electronic platform that allows micro, small, and medium enterprises (MSMEs) to finance or reduce their trade receivables through a variety of lenders.
• These receivables can be due from corporates and other buyers, including Government Departments and Public Sector Undertakings (PSUs).
• TReDS transactions are settled using the NACH system. This was developed in response to stakeholder requests and in order to improve the ease of borrowing and the expanding liquidity requirements of MSMEs.

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)

Reserve Bank of India proposes to increase the limit on e-RUPI vouchers to ₹ 1 lakh

• The Reserve Bank of India (RBI) has proposed to increase the limit on the e-RUPI digital voucher to ₹ 1 lakh from the current cap of ₹ 10,000 and permit such e-RUPI vouchers to be used more than once (until the amount of the voucher is completely redeemed).
• e-RUPI is a QR code or SMS string-based e-Voucher that is sent to the beneficiaries’ mobile phones. Users of this seamless one-time payment mechanism will be able to redeem this voucher at the service provider without the usage of a card, digital payments application or internet banking access.
• This e-RUPI digital voucher was developed by the National Payments Corporation of India (NPCI) and launched in August 2021.
• RBI has also extended the on-tap liquidity window for healthcare till 30 June 2022 and raised the voluntary retention route cap by ₹ 1 lakh crore to ₹ 2.5 lakh crores.

HDFC ERGO General Insurance launches a cyber sachet insurance policy

• HDFC ERGO General Insurance has launched the cyber sachet insurance policy, which is targeted at mitigating cyber-related digital hazards for individual clients and keeping them covered online.
• Customers can be insured through the internet with a pocket-sized insurance policy for less than ₹ 2 per day. The total insured amount extends from ₹ 10,000 to ₹ 5 crores for a variety of coverage options such as money loss, reputation loss, data loss and recovery and so on.
• This cyber sachet insurance also covers a wide range of liability claims stemming from various online activities, including claims arising from social media activities, malware assaults on third-party systems and legal fees incurred as a result of data breaches.

GDP Predictions

Reserve Bank of India predicts India’s GDP growth rate at 7.8 per cent for FY23

• The Reserve Bank of India (RBI) has predicted conservative real GDP growth of 8 per cent in FY23 against the Economic Survey’s projection of 8 per cent to 8.5 per cent.
• RBI has retained the Consumer Price Index (CPI) inflation projection at 3 per cent for FY22 and 4.5 per cent for FY23.

Consumer Price Index (CPI)

• The Consumer Price Index (CPI) is a measure of the average change in prices paid by city residents for a market basket of goods and services over time.

Appointments

Peru appoints Anibal Torres as its fourth Prime Minister

• Anibal Torres was appointed as the fourth Prime Minister of Peru by its President Pedro Castillo.
• Anibal Torres succeeded Mirtha Vasquez.
• He is an independent lawyer who doesn’t belong to any political party and served as the justice minister of Peru.

Peru:

• Capital: Lima
• Currency: Peruvian Sol
• President: Jose Pedro Castillo Terrones

Ranks and Indices

World Book of Records certifies Atal Tunnel as the world’s longest highway tunnel

• The Atal Tunnel was officially recognised as the world’s longest highway tunnel above 10,000 ft by the World Book of Records.
• The Atal Tunnel, which is 02 kilometres long, was constructed to connect Manali to the Lahaul–Spiti Valley in Himachal Pradesh.
• The Atal Tunnel has been named after former Indian Prime Minister Atal Bihari Vajpayee.
• The Atal Tunnel was dedicated to the nation by Prime Minister Narendra Modi on 3 October 2020.
• The World Book of Records is a non-profit organisation that catalogues and authenticates extraordinary records around the world.

World Book of Records:

• Headquarters: London, The United Kingdom

Science & Technology

ISRO is set to launch an earth observation satellite on PSLV-C52 on 14 February

• The Indian Space Research Organisation (ISRO) is set to launch an Earth Observation Satellite (EOS-04) on PSLV-C52 on 14 February, which will be the first Indian launch of 2022.
• This launcher will deploy the 1710-kilogram satellite into the sun-synchronous polar orbit at an altitude of 529 kilometres above the Earth.
• The EOS-04, also known as Risat-1A, is a radar imaging satellite that is designed to deliver high-quality images under all weather circumstances for applications like agriculture, forestry and plantations, soil moisture and hydrology and flood mapping.
• This mission will also carry two small satellites as co-passengers —INSPIREsat-1, a student satellite developed by the Indian Institute of Space Science and Technology (IIST) in collaboration with the University of Colorado Boulder’s Laboratory of Atmospheric and Space Physics and INS-2TD, an ISRO technology demonstrator satellite.

Indian Space Research Organisation (ISRO)

• Headquarters: Bengaluru
• Founder: Vikram Sarabhai
• Chairman: S. Somnath

Sports News

Indian cricket captain Rohit Sharma retains the third spot in the latest ICC Men’s ODI Batting Rankings 2022

• Indian men’s cricket team captain Rohit Sharma has retained the third spot in the latest ICC Men’s ODI Batting Rankings 2022.
• Pakistan skipper Babar Azam topped the ICC Men’s ODI Batting Rankings 2022 followed by Virat Kohli.
• Fakhar Zaman and Joe Root broke into the top 10 of the batting rankings.
• Indian bowler Jasprit Bumrah was ranked at the seventh spot in the bowler rankings.
• In the all-rounder’s list, Ravindra Jadeja was placed at the eighth place.

Leh is set to host the World Cup Cycling event on 4 September 2022

• Leh is going to host the first-ever highest level of World Cup Cycling event in India on 4 September.
• This UCI World Cup Eliminator event is organised by the Union Territory of Ladakh police in association with City Mountainbike and Cycling Federation of India.
• Leh will be among world-famous cycling event destinations such as Abu Dhabi, Barcelona and Paris and India will be among Germany, France, Sweden, Indonesia, Brazil, Belgium and Turkey on the cycling chart.

Banking Terminologies

• National Automated Clearing House (NACH)

NACH Credit is an electronic payment service used by an institution to provide credits to a large number of beneficiaries in their bank accounts for dividend, interest, salary, pension and other payments by raising a single debit to the user institution’s bank account (Corporate registered for NACH Services).

• Trade Receivables Discounting System

Trade Receivables Discounting System (TReDS) is an initiative of the Reserve Bank of India (RBI) to facilitate MSME receivable payments from corporates.

• Bancassurance

Bancassurance is a partnership between a bank and an insurance business that allows the insurer to offer its products to the bank’s customers.

• Moratorium

A loan moratorium is a legally authorised period that delays the payment of money due on account of specific loan instalments.

Abbreviations

• TReDS – Trade Receivables Discounting System
• AML – Anti-Money Laundering
• CPI – Consumer Price Index
• WPI – Wholesale Price Index
• NACH – National Automated Clearing House

Daily CA- 10 February One-Liners

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