Daily Current Affairs: February 19, 2022

Daily Current Affairs (February 19, 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

Prime Minister Narendra Modi inaugurates Asia’s biggest bio-CNG plant in Madhya Pradesh’s Indore

• Prime Minister Narendra Modi virtually inaugurated Asia’s biggest bio-CNG plant at Indore, Madhya Pradesh.
• Nearly 400 buses in Indore will soon run on the bio-CNG produced from waste at this plant situated in the Devguradia village, eight kilometres away from Indore.

International News

India and the World Bank sign a loan agreement worth $ 115 million for the implementation of the ‘REWARD’ project

• The Government of India, the state governments of Karnataka and Odisha and the World Bank have signed a $ 115 million (₹ 869 crores) programme named ‘Rejuvenating Watersheds for Agricultural Resilience through Innovative Development (REWARD)’.
• This programme will help national and state institutions adopt improved watershed management practices to help increase farmers’ resilience to climate change, promote higher productivity and better incomes.
• The Government of India has committed to restoring 26 million hectares of degraded land by 2030 and doubling farmers’ income by 2023.

World Bank

• Headquarters: Washington DC, The United States
• President: David Robert Malpass
• Founded: 1944

India and the UAE sign a comprehensive trade agreement

• India and the United Arab Emirates (UAE) have signed a Comprehensive Economic Partnership Agreement (CEPA) covering goods, services and digital trade, among others, that will allow 90 per cent of the India’s exports duty-free access to the UAE.
• The CEPA is likely to benefit about $ 26 billion worth of Indian products that are currently subjected to 5 per cent import duty by the UAE, India’s third-biggest trading partner behind the United States and China.

The United Arab Emirates (UAE)

• Capital: Abu Dhabi
• Currency: Dirham
• President: Khalifa Bin Zayed Al Nahyan
• Prime Minister: Mohammed Bin Rashid Al Maktoum

Banking and Economy

RBI cancels the licence of Mantha Urban Cooperative Bank

• The Reserve Bank of India (RBI) has cancelled the licence of Mantha Urban Cooperative Bank in Jalna, Maharashtra and consequently, the bank ceased to carry on banking business, with effect from the close of business on 16 February 2022.
• The Reserve Bank of India cancelled the licence as this bank as it did not have adequate capital and earning prospects.

BSE Ebix and LIC join hands for the distribution of insurance products

• BSE Ebix Insurance Broking, a joint venture of Bombay Stock Exchange (BSE) and Ebix Fincorp Exchange Pte Ltd has announced the signing of an insurance broker agreement for the distribution of Life Insurance Corporation’s (LIC) products on its platform.
• Under this agreement, BSE Ebix will offer its clients insurance products offered by LIC, such as Life and Health using its omnichannel digital presence.

Life Insurance Corporation of India (LIC)

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

Kotak Mahindra Bank partners with Ezetap for PoS solutions

• Kotak Mahindra Bank Limited (KMBL) has partnered with Ezetap to provide integrated point-of-sale (PoS) solutions across 4,000 locations in India.
• Under this partnership, Ezetap’s integrated and customised PoS solutions will benefit scores of KMBL’s merchants in retail business spread across India.

Kotak Mahindra Bank

• Headquarters: Mumbai, Maharashtra
• CEO: Uday Kotak
• Tagline: Let’s make money simple

Agreements and MoUs signed

TransUnion CIBIL partners with FICCI on a unique nationwide MSME consumer education programme

• TransUnion CIBIL has partnered with the Federation of Indian Chambers of Commerce and Industry (FICCI) to launch a unique nationwide MSME consumer education programme.
• This programme’s objective is to support micro, small and medium enterprises (MSMEs) in gaining awareness of credit management, CIBIL rank and commercial credit information.
• This programme will kick off with MSME clusters in Maharashtra, Assam and Tripura and aims to reach thousands of MSMEs across key MSME clusters in India.

FICCI (Federation of Indian Chambers of Commerce and Industry)

• Headquarters: New Delhi, India
• Secretary-General: Dilip Chenoy
• President: Sangita Reddy

Vedanta signs a pact with TERI to accelerate ESG goals

• Vedanta has signed a pact with The Energy and Resources Institute (TERI) to accelerate its environmental, social, and governance (ESG)
• Vedanta plans to invest around ₹ 200 crores over the next five to 10 years on R&D and sustainability initiatives to promote and build a sustainable ecosystem.

Appointments

Pralay Mondal was appointed as the Deputy Managing Director of CSB Bank for three years

• The Reserve Bank of India (RBI) has approved the appointment of Pralay Mondal as the Deputy Managing Director of CSB Bank for three years.
• He has been appointed as the Deputy Managing Director of CSB Bank post-RBI’s approval in terms of Section 35B of the Banking Regulation Act, 1949.

Obituary

Veteran Bengali singer Sandhya Mukherjee passed away at 90

• Veteran Bengali singer Sandhya Mukherjee passed away at the age of 90 in Kolkata, West Bengal.
• She received West Bengal’s highest civilian honour ‘Banga Bibhusan’ in 2011 and the National Film Award for the Best Female Playback Singer in 1970 for the movies Jay Jayanti (a Bengali remake of ‘Sound of Music’) and Nishi Padma.

Senior journalist Ravish Tiwari passed away at 40

• Senior journalist, political reporter and editor, Ravish Tiwari passed away at the age of 40.
• He was working as the National Political Editor and Chief of the National Bureau of the Indian Express.

Daily CA 19 February Oneliner:

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