Daily Current Affairs: January 12, 2022

Daily Current Affairs (January 12, 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

National Youth Day – 12 January

• National Youth Day or ‘Yuva Diwas’ is observed on 12 January to mark the birth anniversary of Swami Vivekananda as well as encourage the Indian youth to work hard and contribute to the overall development of India.
• The Government of India declared Swami Vivekananda’s birth anniversary as the National Youth Day in India in 1985.
• The theme for National Youth Day 2022 is ‘It’s all in the mind’.

National News

Prime Minister Narendra Modi inaugurates eleven new government medical colleges across Tamil Nadu

• Prime Minister Narendra Modi inaugurated eleven new government medical colleges across Tamil Nadu and the new campus of the Central Institute of Classical Tamil in Chennai.
• The new medical colleges will be established in Virudhunagar, Namakkal, The Nilgiris, Tiruppur, Thiruvallur, Nagapattinam, Dindigul, Kallakurichi, Ariyalur, Ramanathapuram and Krishnagiri districts of Tamil Nadu.
• These medical colleges are being established at an estimated cost of about ₹4,000 crores, out of which around ₹2145 crores has been provided by the Union Government and the rest by the Tamil Nadu Government.
• The new medical colleges will have a total capacity of 1450 seats and will be built under the centrally supported initiative ‘Establishing of New Medical Colleges connected with Existing District/Referral Hospitals’.

Banking & Economy

UCO Bank launches RuPay Select contactless debit card

• UCO Bank in association with the National Payments Corporation of india (NPCI), has launched a RuPay Select contactless debit card for its premium customer segment.
• This card will offer an ATM withdrawal limit of ₹50,000 along with a purchase of up to ₹2 lakhs at point-of-sales (POS) or e-commerce.
• All RuPay Select contactless debit cardholders are eligible for an insurance cover of up to ₹10 lakhs (Death due to personal accident and permanent disability).

UCO Bank

• Headquarters: Kolkata
• MD & CEO: Soma Sankara Prasad
• Tagline: ‘Honours your Trust’

CRISIL launches a new maturity index named ‘CRISIL IBX 70:30 CPSE Plus SDL Index – April 2025’

• CRISIL has launched a new target maturity index named ‘CRISIL IBX 70:30 CPSE Plus SDL Index – April 2025’.
• This index will track the performance of AAA CPSEs (Central Public Sector Enterprises) and State Development Loans (SDL) securities maturing between 1 November 2024 and 30 April 2025. It will mature on 30 April 2025.
• This is the third such index launched by CRISIL on target maturity funds. The earlier two indexes track the gilt market in 2027 and 2028 maturities.
• Some of the new indices launched by CRISIL include CRISIL Broad-Based Long Term Gilt Index, CRISIL Broad-Based Medium Term Gilt Index, CRISIL Broad-Based Short Term Gilt Index, CRISIL Broad-Based Gilt Index and CRISIL Money Market Index-Insurance.

Axis Bank ties up with MinkasuPay for smoother biometric-based net banking payments

• Axis Bank has partnered with MinkasuPay to offer the smoothest net banking payment experience for its customers through biometric authentication solutions.
• This partnership will enable Axis Bank customers to make net banking payments in merchant apps using fingerprint fingerprint or face ID, without the need for usernames, passwords and one-time password (OTPs).
• This will help enhance user experience and also bolster security and reduce cyber-frauds.

Axis Bank

• Headquarters: Mumbai, Maharashtra
• MD & CEO: Amitabh Chaudhry
• Tagline : Badhti Ka Naam Zindagi

Federal Bank unveils an instant 30-minutes loan approval portal for MSMEs

• Federal Bank has launched an online lending platform,com, to facilitate quick and hassle-free credit approvals of up to ₹50 lakhs for micro, small & medium enterprises (MSMEs) across India.
• This platform helps MSME borrowers in availing loans in less than 30 minutes digitally by uploading their income tax returns, bank account statements and online verification of GST details.
• The clients can avail themselves of business loan approvals from the comfort of their homes without visiting the bank’s branches.

Federal Bank

• Headquarters: Aluva, Kerala
• MD & CEO: Shyam Srinivasan
• Tagline: Your Perfect Banking Partner

GDP Predictions

World Bank retains India’s GDP growth rate at 8.3 per cent for FY22

• World Bank has retained India’s GDP (Gross Domestic Product) growth forecast at 3 per cent for 2021–22 (FY22).
• World Bank has upgraded India’s GDP growth forecast at 7 per cent for 2022–23 (FY23) from 7.5 per cent estimated earlier and has projected 6.8 per cent for 2023–24 (FY24).

World Bank

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

Oxford Economics projects India’s GDP growth forecast at 7.9 per cent for FY22

• Oxford Economics has projected India’s GDP growth forecast to 7. 9 per cent from 7.8 per cent previously for the current fiscal year 2021–22 (FY22).

Appointments

South Indian Bank appoints Benny P. Thomas as its Non-Executive Director

• South Indian Bank has appointed Benny P. Thomas as its Non-Executive Director.
• He is a leading law practitioner in Kochi and has 33 years of experience in the field of law.
• He is the managing partner at Thomas & Thomas and was senior partner at Menon & Pai Advocates in Kochi.

Awards and Recognitions

Harshaali Malhotra wins the 12^th Bharat Ratna Dr. Ambedkar Award for 2022

• Harshaali Malhotra was honoured with Bharat Ratna Dr. Ambedkar Award 2022 for her commendable performance in the Bajrangi Bhaijaan movie and contribution to the field of Indian cinema.
• She featured in Bajrangi Bhaijaan released in 2015 and directed by Kabir Khan.
• Maharashtra Government has conducted the Bharat Ranta Dr. Ambedkar national Awards 2022 ceremony in memory of Dr. Babasaheb Bhimrao Ambedkar.

Ranks and Indices

India ranks 83^rd in the Henley Passport Index 2022

• India’s passport power was ranked in the 83^rd position in the Henley Passport Index 2022 with a visa-free score of 60, climbing seven places from its 90^th rank in 2021.
• Japan and Singapore topped the index.
• In 2020, India ranked at the 84^th position while in 2016, India was ranked 85^th along with Mali and Uzbekistan.
• London-based global citizenship and residence advisory firm Henley & Partners has released the Henley Passport Index for the year 2022, based on exclusive data provided by the International Air Transport Association (IATA).

Chennai International Airport ranks eighth on the global list for on-time performance by Cirium

• The Chennai International Airport was ranked eighth for on-time performance among large international airports globally for 2021 by Cirium. It is the only Indian airport ranked in the top 10.
• The top three are Miami Airport in the United States, Fukuoka Airport and Haneda Airport from Japan.

Science & Technology

India tests the advanced sea-to-sea variant of BrahMos missile from INS Visakhapatnam

• India successfully tested an extended range sea-to-sea variant of the BrahMos supersonic cruise missile from the Indian Navy’s newly commissioned INS Visakhapatnam.
• BrahMos was originally deployed on naval warships in 2005 and has the potential to hit sea-based targets beyond the radar horizon.
• This naval variant was originally tested in October and December 2020 from the Indian Navy’s indigenously-built stealth destroyer INS Chennai and Rajput-class destroyer INS Ranvijay.
• This version of the missile has been designed to launch either in a vertical or a horizontal mode from moving/stationary assets to target both land and sea targets. The missiles fired at a speed of 2.8 Mach or nearly three times the speed of sound and significantly increase the capability of the ships in engaging long-range targets.

Sports News

Tata Group becomes the title sponsor of 2022 and 2023 editions of IPL

• The Tata Group has replaced Vivo as the title sponsor for the Indian Premier League 2022 and 2023 editions.
• For two years of title sponsorship, the Tata Group will pay about ₹670 crores while Vivo would pay a total of ₹454 crores to terminate the contract.

South African cricketer Chris Morris announces his retirement from all forms of cricket

• South Africa all-rounder Chris Morris announced his retirement from all forms of cricket.
• He made his international debut in December 2012 against New Zealand and played his first one-day international (ODI) in 2013.
• He represented South Africa in four Tests, 42 ODIs and 23 T20 Internationals.

Obituary

European Parliament President David Sassoli passed away

• The President of the European Parliament, an Italian socialist and former journalist David Sassoli passed away at the age of 65.
• He began his career as a journalist and became a member of the European Parliament in 2009 and its Speaker in 2019.
• He was a member of the Progressive Alliance of Socialists and Democrats.

Daily CA- 12 January One Liners

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