Current Affairs 18th February 2022, Daily GK Update
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SIDBI launched ‘Waste to Wealth Creation’ programme in West Bengal
- Small Industries Development Bank of India (SIDBI) has launched the ‘Waste to Wealth Creation’ programme for women in the Sundarbans in West Bengal.
- In this, the women will make ornaments and showpieces from the fish scales. SIDBI will extend benefits to 50 women indirectly generating revenues from alternate livelihoods.
- Under this program, Later these women are expected to become a trainer for replicating and disseminating the knowledge among other aspirants. This is a part of mission Swavalamban of SIDBI that aims to support artisans to become sustainable.
About West Bengal:
- Capital: Kolkata
- Governor: Jagdeep Dhankhar
- Chief minister: Mamata Banerjee
SIDBI partnered with Bihar govt to promote MSME Sector
- Small Industries Development Bank of India (SIDBI) has partnered with the Bihar govt to develop the state’s MSME ecosystem. It signed two MoUs with the Industries Department, Govt of Bihar, and Bihar Industrial Area Development Authority (BIADA).
- Under the MoU, it will deploy Project Management Units (PMU) in making necessary interventions for facilitating the development of the MSME ecosystem. SIDBI is the principal financial institution for MSME development in the country.
- Bihar is the 14th state of India with which SIDBI has partnered to strengthen MSME. SIDBI will place an expert agency with the state industries department of Bihar.
About Small Industries Development Bank of India (SIDBI):
- Founded: 2 April 1990
- Headquarters: Lucknow, Uttar Pradesh
- CMD: Sivasubramanian Ramann
Gujarat announced new Biotechnology Policy for 2022-27
- Gujarat CM Bhupendra Patel has announced New Biotechnology Policy for the year 2022-27, aimed to achieve Aatmanirbhar Bharat.
- Under this policy, strategic projects, mega and large projects are eligible for special packages. This will attract new investment through anchor units and existing industries and create new employment opportunities in the state.
- The MSMEs with a capital investment of less than 200 crore rupees will be given maximum assistance of 40 crore rupees.
- Similarly, the mega and large projects with a capital investment of more than 200 crore rupees and special projects like ecosystem empowerment, emerging technologies in challenging areas, and strategic importance will be assisted up to 25 percent of the total capital expenditure up to a maximum limit of 200 crore rupees.
- Capital: Gandhinagar
- Governor: Acharya Devvrat
- Chief minister: Bhupendrabhai Patel
Social Justice Ministry launched SEED Scheme for welfare of DNTs, NTs, SNTs
- Union Minister of Social Justice and Empowerment, Dr Virendra Kumar has launched a central sector scheme named the Scheme for Economic Empowerment for DNTs, (SEED) at Dr Ambedkar International Centre, New Delhi.
- The total financial outlay for SEED Scheme is approximately Rs 200 crores to be spent over a period of 5 years starting Financial Year 2021-22 to 2025-26.
- It is an umbrella scheme for the empowerment and welfare of the most deprived and economically weaker Indian communities’ De-notified Tribes (DNTs), Nomadic Tribes (NTs), and Semi Nomadic Tribes (SNTs).
- It will be implemented by the Development and Welfare Board for DNTs, SNTs &NTs (DWBDNCs) along with the Ministry of Rural Development (MoRD), National Rural Livelihood Mission (NRLM), and National Health Authority (NHA).
Govt estimated record food grains production of over 316.06 MT for 2021-22
- In the Second Advance Estimates of production of major crops for the year 2021-22 released by the Ministry of Agriculture and Farmers Welfare (MoAF&W), India’s estimated foodgrains production is 316.06 million tonnes.
- It is higher by 5.32 million tonnes than the production of foodgrains during 2020-21.
- The production during 2021-22 is also higher by 25.35 million tonnes than the previous five years (2016-17 to 2020-21) average production of foodgrains.
The estimates show the foodgrains output in 2021-22 is expected to be 6 million tonnes (MT) which is nearly 2% more than the overall production of 310 MT in previous year.
- As per 2nd Advance Estimates, the estimated production of major crops during 2021-22 is as under:
- Foodgrains – 316.06 million tonnes. (record)
- Rice –127.93 million tonnes. (record)
- Wheat –111.32 million tonnes. (record)
- Nutri / Coarse Cereals –49.86 million tonnes.
- Maize –32.42 million tonnes. (record)
- Pulses –26.96 million tonnes.(record)
- Tur –4.00 million tonnes.
- Gram – 13.12 million tonnes.(record)
- Oilseeds –37.15 million tonnes.
- Groundnut – 9.86 million tonnes.
- Soyabean –13.12 million tonnes.
- Rapeseed and Mustard –11.46 million tonnes (record)
3. Sugarcane – 414.04 million tonnes.(record)
4. Cotton –34.06 million bales (each of 170 kg).
5. Jute & Mesta –9.57 million bales (each of 180 kg).
Nepal will become 1st country to deploy India’s UPI platform
- NPCI announced that Nepal will be the first country to adopt India’s UPI system. This will play a pivotal role in transforming the digital economy of the neighbouring country.
- NPCI International Payments Ltd, the international arm of NPCI, has joined hands with Gateway Payments Service (GPS) and Manam Infotech to provide the services in
- GPS is the authorized payment system operator in Nepal. Manam Infotech will deploy Unified Payments Interface (UPI) in Nepal.
- Capital: Kathmandu
- Currency: Nepalese rupee
- President: Bidhya Devi Bhandari
JPMorgan became world’s first bank to set up shop in the metaverse
- The largest bank in the US JPMorgan has become the world’s first bank to set up shop in the metaverse. JPMorgan has opened a lounge in the blockchain-based world
- Users can create their virtual avatars, build virtual spaces, and roam in the lounge christened ‘Onyx Lounge’ after its suit of Ethereum-based services. The lounge also features a digital image of the bank’s CEO Jamie Dimon.
- Metaverse is a virtual universe where users can do multiple activities like socializing, shopping, or even attending events through their avatar. Augmented Reality (AR) and Virtual Reality (VR) headsets are becoming more pocket-friendly, and both technologies have together contributed to a significantly enhanced user experience.
About JPMorgan Chase & Co.:
- Founded: 1 December 2000
- Headquarters: New York, New York, United States
- CEO: Jamie Dimon
Banking and Financial
SEBI made separation of chairperson & MD, CEO roles voluntary
- Securities and Exchange Board of India (SEBI) board has decided to make provision for separation of the roles of chairperson and MD, CEO as ‘voluntary’ against ‘mandatory’
- The market regulator had in June 2017 set up a committee on corporate governance under Uday Kotak with a view to seek recommendations to further enhance corporate governance norms for listed companies.
- One of the recommendations that the Committee came out with was the separation of the roles of chairperson and MD/CEO of listed companies. This was proposed to provide a better and more balanced governance structure by enabling more effective and objective supervision of the management.
- The SEBI board, in its meeting in March 2018 approved the proposal for the top 500-listed entities. Later the deadline for compliance was extended by two years in January 2020.
About The Securities and Exchange Board of India (SEBI):
- Founded: 12th April 1992
- Headquarters: Mumbai, Maharashtra
- Chairman: Ajay Tyagi
Jio Platforms acquired 25% stake in US-based deep-tech startup TWO Platforms for $15 million
- Jio Platforms has acquired a 25% stake in US-based deep-tech startup company TWO Platforms for $15 million. Two Platforms is an artificial reality company that focuses on building interactive and immersive AI experiences.
- The two companies have joined hands to fast-track the adoption of new technologies and build disruptive technologies such as AI, metaverse and mixed realities.
- TWO’s platform enables real-time AI voice and video calls, digital humans, immersive spaces, and lifelike gaming. The platform was founded by an Indian-origin computer scientist & former Samsung Technology and Advanced Research president and CEO Pranav Mistry.
About Jio Platforms (JPL):
- Founded: October 2019 (as a wholly-owned unit of Reliance)
- Headquarters: Mumbai, Maharashtra
- Founder: Mukesh Ambani
Twitter partnered with Paytm to boost ‘Tips’ feature in India
- Twitter Inc has partnered with Paytm’s payment gateway to improve the support for its ‘Tips’ feature in India.
- With this partnership, Twitter users will be able to use the payments facility of Paytm, including its Paytm digital wallet, Paytm Postpaid (buy-now-pay-later service), debit and credit cards, and net banking.
- The feature was announced last year and is one of the company’s many efforts to introduce monetization on the platform. Using the Tips feature, users can send payments to their favourite content creators on Twitter. Tips is available since November to all Twitter users above 18 years of age in India.
- Founded: March 21, 2006
- Headquarters: San Francisco, California, U.S.
- Chairman: Patrick Pichette
- CEO: Parag Agrawal
IndusInd Bank empanelled by SFAC to facilitate digital transactions on e-NAM portal
- IndusInd Bank has been empanelled by the Small Farmers Agri- Business Consortium (SFAC) to facilitate digital collection and settlement services on National Agriculture Market (e-NAM) portal.
- Under this arrangement, the bank will offer an array of transaction services through digital modes including multi-net banking, debit card, NEFT, RTGS, IMPS and UPI to the buyer and seller.
- Induslnd Bank will be directly integrated with the e-NAM platform to provide safe and hassle-free payments, clearing, and settlement services to the farmers and traders. As of January 2022, there are over 1.7 crore farmers and more than 1.8 lakh traders who are registered on eNAM and have benefitted from the digital marketplace.
About IndusInd Bank:
- Founded: 1994
- Headquarters: Mumbai, Maharashtra
- MD & CEO: Sumant Kathpalia
- Tagline: We Make You Feel Richer
Fisdom joined hands with Bank of Maharashtra to offer wealth management service
- Fisdom, a wealth-tech company, has partnered with the Bank of Maharashtra, to offer wealth management products and services to over 29 million customers of the bank.
- This partnership is to distribute the wealth products and services through the bank’s network of more than 2,000 branches and its digital platforms, including the mobile banking app and internet banking.
- Wealth management services will be made accessible to bank customers through both physical and digital mode. The wealth management offerings will enable customers of BoM to invest into mutual funds (MF) through Maha Mobile, BoM’s Mobile Banking App, and Internet Banking facility.
About Bank of Maharashtra (BoM):
- Founded: 16th September 1935
- Headquarters: Pune, Maharashtra
- MD & CEO: A S Rajeev
- Tagline: Ek Parivaar, Ek Bank (One Family One Bank)
Appointment and Resignation
Manoj Tiwari appointed as Brand Ambassador of Khadi & handicrafts of Bihar
- Manoj Tiwari, a Member of Parliament (MP) – Lok Sabha and Bhojpuri singer, has been appointed as the brand ambassador of Khadi and other handicrafts of Bihar.
- The announcement was made by Syed Shahnawaz Hussain, Minister of industries of Bihar.
- He was elected to the Lok Sabha, the lower house of India’s bicameral Parliament, from the North East Delhi, NCT of Delhi Constituency representing the Bharatiya Janata Party (BJP).
Note: List of brand ambassador
- RenewBuy: RajKummar Rao
- GoodDot: Neeraj Chopra
- Games24x7’s ‘RummyCircle’: Hrithik Roshan
- Uttarakhand: Akshay Kumar
- Bata India: Disha Patani
- MediBuddy: Amitabh Bachchan
- Brand Ambassador and investor of Krishi Network: Pankaj Tripathi
- Gaming app A23: Shah Rukh Khan
US-Bangladesh will conduct joint air exercise ‘Cope South 22’
- The air forces of Bangladesh and the US will conduct a joint air exercise between Feb 20-25.
- Bilateral tactical airlift exercise ‘Cope South 22’ will be conducted at BAF Kurmitola Cantonment, Dhaka, and Operating Location-Alpha, Sylhet, Bangladesh.
- Aim: to improve interoperability with the Bangladesh air force and to support the armed forces of Bangladesh’s long-term modernization efforts in order to maintain regional stability.
Note: Some Important Exercise:
- Red Flag-India and US
- Al Nagah-India and Oman
- ‘Naseem-Al-Bahr’-India and Oman
- Ekuverin-India and Maldives
- Garuda Shakti-India and Indonesia
- Desert Warrior- India and Egypt
15 February: Bihar Shahid Diwas
- Chief Minister of Bihar Nitish Kumar announced that February 15 would now be commemorated as “Shahid Diwas”.
- February 15 would be commemorated as Shahid Diwas, in honour of 34 freedom fighters who were killed by police 90 years ago, in Tarapur town in Munger district of Bihar.
- These freedom fighters had never got their due, even though this was the biggest massacre carried out by the British police after Jallianwala Bagh in 1919 in Amritsar.
Former Indian footballer Surajit Sengupta passed away
- The former Indian footballer Surajit Sengupta passed away due to COVID-19 complications in Kolkata.
- Sengupta had been associated with Kolkata’s three big clubs, Mohun Bagan (1972-1973, 1981-1983), East Bengal (1974- 1979), and Mohammedan Sporting (1980).
- He represented the national team from 1973 to 1979 and was in the national team for the 1978 Asian Games.
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